RIL looks at acquiring brands to consolidate its consumer goods biz
16 May 2022, Mumbai:
In talks with 30 niche local brands.
Mukesh Ambani led Reliance's plans to build a portfolio of 50 to 60 grocery household and personal care brands within the next 6 months.
ALSO READ Reliance Brands: 6th ‘Designer Brand’ acquisition & counting
Reliance is in the final stages of negotiations with around 30 popular niche local brands to fully acquire them or form JV/joint venture partnerships for sales.
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Investment outlay to acquire brands is not clear, but Reliance aims to achieve rupees 50000 crore which is 6.5 billion USD of annual sales from the business within 5 years.
It targets building its own 6.5 billion USD consumer goods business to challenge foreign giants like HUL, two sources familiar with the plan told Reuters.
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CREDITS: TOI Dt 16-05-2022 (The news article has not been edited by DFU Publications staff).
