Richest Asian, Mukesh Ambani is on a shopping spree in race against Amazon

 

 

Bloomberg Mukesh Ambani, Asia’s richest man who spent the early few months of the pandemic raising more than $20 billion by selling stakes in his technology venture, is now on a shopping spree.

The Indian billionaire is looking to acquire several local online retailers to help expand product offerings, people familiar with the matter said, as he races to build his e-commerce platform and compete against Amazon.com Inc.

 Reliance Industries Ltd, Ambani’s oil, retail and telecommunications conglomerate, is in various stages of negotiations to either buy out or purchase stakes in Urban Ladder, an online furniture seller, Zivame, a lingerie maker, and Netmeds, which delivers medicine, the people said, asking not to be identified as the talks are confidential. There’s no certainty the deliberations may result in a deal, they added.

The 63-year-old tycoon is seeking to widen his retail footprint in a market that’s become a hot spot for global giants such as Amazon as well as many local rivals, all chasing a billion-plus consumers. The business mogul last month outlined plans to rope in investors for his Reliance Retail Ltd., days after selling a combined 33 per cent stake in Jio Platforms Ltd. — a digital services holding company — to partners including Facebook Inc. and Google.

Read Complete Article


Comments

Post a Comment

Popular posts from this blog

Apple Inc adds thrust to its India momentum with a brand new line-up

Image
   In the last few years, if strong headwinds kept Apple’s India business primarily confined to its smartphone portfolio, it has surely weathered the storm now. And for 2021, the Cupertino-headquartered firm has placed its India bet upfront. With sales of its second largest selling product —Macs - on fire, the consumer tech giant has unveiled a new set of offerings to encash on consumers’ growing appetite for premium computers, tablets and over-the-top content. In its first major announcement for the year, Apple Chief Executive Officer (CEO)  Tim Cook  unveiled a range of products like iMac, iPad Pro,  Apple TV  4K, AirTag and iPhone 12 in a new colour. Unlike earlier, when Indian consumers would have to wait longer for Apple’s new flagships, this time, the firm is bringing the entire range to the local market simultaneously with 29 other lead­ing markets of the company. The new iMac, two iPads and iPhone 12 and 12 Mini will be open for ordering starting Ap...
Read more

Get enough protein, focus on vitamins, minerals to boost your immunity

Image
Health is defined by the World Health Organization as a state of complete physical, mental and social well-being, and not merely the absence of disease or infirmity. Building immunity and good defense is important for good health. The immune system is indeed a system, not a single entity. Good nutrition is essential to a strong immune system, which offers protection not only from novel infections, such as COVID -19, but also seasonal illness, such as the flu and allergies, abnormal cell development and cancers. Energy intake should be as per requirement, since both over nutrition (obesity) and undernutrition can lead to poor immunity. There is no single food or supplement that can prevent illness. However, here are a few options that you could follow that can help in building your overall immune strength. Get enough protein Protein plays an important role in body’s immune system, especially healing and recovery. Eat a variety of protein rich foods, especially combinatio...
Read more

Xiaomi launches Redmi Note 8 Pro with 64 MP camera, Helio G90T processor

Image
Chinese smartphone maker Xiaomi launched the eighth-generation of Redmi Note devices -- Redmi Note 8 and  Redmi Note 8 Pro  -- the successor to Redmi Note 7-series with 64-megapixel quad-camera setup as the biggest highlight. In addition to the smartphones, Xiaomi also launched its first Redmi-branded TV as well as a refreshed version of the RedmiBook 14. Xiaomi has brought out Note 8 comes with minor upgrades over its predecessor with a better processor, four rear cameras, slimmer bezels, etc. However, Note 8 Pro packs a redesigned body with significant upgrades in the hardware over the Redmi Note 7 Pro, including the presence of a 64-megapixel rear camera, as a part of the quad camera setup. The Note 8 will go on sale on September 17, while the Note 8 Pro will go on sale on September 3. However, the launch in India could be ahead of the festive season. The Note 8 will be available in Dream Blue, Meteorite Black, and White colours. The Redmi Note 8 Pro will be avail...
Read more