Ambani’s Reliance Retail, founded in 2006, remains the largest retailer in India by revenue. It serves more than 3.5 million customers each week through its nearly 10,000 physical stores in more than 6,500 cities and towns. Ambani’s have expanded their outreach with the launch of JioMart.
JioMart an E commerce extension of Reliance retail is delivering groceries in more than 200 towns across the country. As of now, the JioMart website has listed essential grocery, FMCG goods and farm produce. The company also says it has collaborated with farmers to source selling fruits and vegetables from them.
Reliance is in advance talks with Milk basket for a possible acquistion. Last month, Milkbasket has raised a fresh $5.5 million in funding led by Inflection Point Ventures . However as per the industry sources Milkbasket will soon be part of JioMart’s basket.