India's one of the biggest retailers Reliance will acquire dozens of small grocery and non-food brands as it targets to build its own $6.5 billion consumer goods business to challenge foreign giants like Unilever.
Reliance plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months and is hiring a massive number of distributors to take them to mom-and-pop stores and bigger retail outlets across the nation.
The consumer goods under the name “Reliance Retail Consumer Brands” will come on store network of more than 2,000 grocery outlets and ongoing expansion of “JioMart” e-commerce operations in India's nearly $900 billion retail market, one of world's biggest.
Reliance is in the final stages of negotiations with around 30 popular local consumer brands to fully acquire them or form joint venture partnerships for sales. It is said that Reliance had set a goal to achieve $6.5 billion of annual sales from the business within five years.
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