Reliance to buy dozens of brands in RM29bil consumer goods play

Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months and is hiring an army of distributors to take them to mom-and-pop stores and bigger retail outlets across the nation. (File pic: Mukes Ambani)

MUMBAI: India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own US$6.5bil (RM28.6bil) consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan tells Reuters.

Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months and is hiring an army of distributors to take them to mom-and-pop stores and bigger retail outlets across the nation, the sources added.