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Wednesday, October 28, 2020

Reliance expands retail business, buys out Future Group – what it means

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As was widely expected, The Mukesh Ambani-led Reliance Industries announced its acquisition of the Future Group for Rs 24,713 crore ($3.38 billion) late on Saturday night. With this, the company, which launched the wholly-owned subsidiary JioMart recently, has taken another step towards becoming India’s largest retailer and eCommerce player. 

Following the deal, Reliance Retail would have access to more than 1,800 stores across the brands that Future Group owns including Big Bazaar, FBB, Easyday, Central, and Foodhall. These stores are spread across 420 cities in India. 

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