On Thursday, Reliance announced the launch of its own Fast-moving Consumer Goods brand (FMCG) ‘Independence’ in Gujarat. With this, the company will enter the FMCG industry and sell products from staples to processed foods and other essentials.
The company plans to develop Gujarat as a ‘Go-to-market’ state to excel in the FMCG business and will be rolling out the brand nationally soon. In the upcoming days, the company will set the launch to cover the FMCG retailers across Gujarat.
Regarding the launch of the FMCG brand, Isha Ambani, Director of Reliance Retail Venture Ltd., said, ━“I am happy to announce the launch of our own FMCG brand INDEPENDENCE, which brings a wide choice of high quality and affordable products, including edible oils, pulses, grains, packaged foods and other daily need products.”
Reliance Industries Ltd. Chairman Mukesh Ambani announced entry into the FMCG Industry in the company’s 45th annual meeting in August, 2022. By setting up the FMCG business, the company aims to develop and deliver high-quality, affordable products that solve every Indian’s daily needs, Reliance Director Nisha Ambani added to her statement.
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Additionally, RIL is in talks to acquire brands such as Garden Namkeen from CavinKare, along with others such as Lahori Zeera and Bindu Beverages, in a bid to strengthen the FMCG business.
Talking about Reliance Retail, it is a subsidiary of Reliance Industries Ltd. and the holding company of the retail business, which had a turnover of Rs 1.99 lakh crore and a net profit of Rs 7,055 crore for the year ended on March 31, 2022.
