India's Reliance Retail to acquire Future Group's retail, wholesale, and logistics businesses for $3.4 billion
Companies, agencies, institutions, etc
Reliance Retail
Future Group
Amazon
Walmart
Flipkart
BCG
Retailers’ Association
Future Retail
Future Group’s
Reliance Industries
Facebook
Google
Ambani
Debajyoti Chakraborty
NurPhoto
Getty Images)Now
Jio Platforms
People
Mukesh Ambani
Jio Platforms
Getty Images)Ambani
Isha Ambani
Groups
Indian
American
Physical locations
the Bengal Global Business Summit
Places
No matching tags
Locations
India
Kolkata
JioMart
Mumbai
Events
No matching tags
Summary
The e-commerce venture, which began test trials in select suburbs of Mumbai late last year, has expanded to more than 200 cities and towns across India.Facebook, which has invested $5.7 billion in Jio Platforms, said the company will explore ways to work with Reliance to digitize the nation’s 60 million mom and pop stores as well as other small and medium-sized businesses.“With this transaction, we are pleased to provide a home to the renowned formats and brands of Future Group as well as preserve its business ecosystem, which have played an important role in the evolution of modern retail in India.
As said here by Manish Singh