Mukesh Ambani is clearing the way for the launch of his e-commerce business
Mukesh Ambaniis withdrawing Reliance Retailproducts from future rival e-commerce platforms, Flipkart and Amazon India.
- The Ambani-owned enterprise is aiming for exclusivity, according to a report by the Economic Times.
According to a report by the Economic Times, it’s not just products that are Reliance-branded but also include over 40 Reliance-affiliated global brands.
And, whatever inventory is still available, is only there until it runs out since Reliance isn’t taking any new orders either.
The reason for removing Reliance products from Amazon India and Flipkart is because Ambani is reportedly trying to create exclusivity around the brands that comes under its umbrella. Sources told the Economic Times that Reliance Trends and
Ambani’s e-commerce model is already being tested in Gujarat where Reliance has an existing network of 1.2 million local shopkeepers thanks to the Reliance Retail’s offline reach.
And the blow to Amazon and Flipkart dealt by India’s new e-commerce rules in February only worked in Ambani’s favour.
Mukesh Ambani may be the surprise winner from India's new rules hurting Amazon and Walmart
Amazon's newest challenger may be the richest man in Asia
Popular on BI
- Not hard, not soft, the earliest dino eggs may have been of a 'leathery' texture to protect against damage: study
- Don't need to go big to go home: Australia is turning to sustainable 'tiny houses' to fix their housing crisis!
- Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL
- Carbon tax turns into climate fight at COP28
- Market to focus on macro data, global trends: Analysts