After entering the 5G spectrum, footwear, clothing, etc., Reliance Retail has now found its place in the fast-moving consumer goods (FMCG) industry; the conglomerate is now reportedly in talks to acquire a batch of brands. According to the reports, Reliance Retails on Monday announced the acquisition of brands like Garden Namkeens from CavinKare, Lohri Zeera, and Bindu Beverages.
Reliance Retail will launch its FMCG business this year, Isha Ambani, director at Reliance Retail Venture, said at the company’s annual general meeting (AGM).
“The objective of this business is to develop and deliver high quality, affordable products, which will solve every Indian’s daily needs,” Ambani said.
She added, “As part of our commitment to India’s rich culture and heritage, we will soon start marketing quality goods produced by tribals and other marginalised communities across India. This will not only provide these communities with a handful of opportunities for employment and entrepreneurship but also help preserve the incredibly rich talent, skill sets and knowledge base of our traditional Indian artisans, especially women.”
The company initially set a target of 50,000 crores for the FMCG business. The products which will sell range from foods like groceries, snacks etc., to non-food items such as soaps, shower gel hand wash, and other beauty products, including lipstick. It will also include ready-to-cook meals, home care products, mother care items, etc.
Today, the FMCG market is estimated to be over $100 billion, which is expected to reach nearly $6oo billion by 2027. The industry is largely dominated by Hindustan Unilever, ITC Limited, P & G, Nestle, Dabur, and Amul, to name a few. By entering this space, Reliance Industries will compete with Adani Wilmar and other FMCG companies.
Reliance is the most successful and significant industry in India that has set its foot in many business verticals. FMCG Industry is the new bet for Reliance, but will it hold power on this?
