Isha Ambani’s 820,000 Crore Company Signs a Deal with a German Beauty Brand
Image Source: Goodreturns Tamil
Isha Ambani-led Reliance Retail is one of the best-performing subsidiaries of Mukesh Ambani’s Reliance Industries, which has a market cap of more than Rs. 1,860,000 crores. Isha Ambani has been promoting and pushing the growth of Reliance Retail, and in the past year, the company has partnered with many popular and international brands and brought them to India.
Reliance Retail is currently valued at a massive Rs. 820,000 crores. Carrying forward the same expansion mindset, Isha Ambani’s Reliance Retail is ready to bring the international brand Allies of Skin to India. As per a report by the Times of India, the brand will now be available in India in stores and apps of Reliance Retail’s Tira.
As Reliance Retail is heading towards its rumored IPO, it is looking forward to increasing its presence in tier 1 and tier 2 cities rapidly; the company currently has 2.5 lakh employees on roll. Jimmy Choo, Georgio Armani, Hugo Boss, Versace, Michael Kors, Brooks Brothers, Armani Exchange, Burberry, and many other global brands are available in India as a Reliance Retail partner brand.
With 78 crore store footfalls and over 100 crore transactions, Reliance Retail is among the 10 most visited retailers in the world and the only Indian retailer in the global top 100 list. METRO Cash and Car is a wholesaling company that had previously established many stores in India. The brand is owned by a massive German company called METRO AG, based in Germany, which specializes in supermarkets.
The massive deal worth thousands of crores includes all 31 wholesale stores operated by METRO Cash and Carry, branding them as India Cash and Carry now. Isha Ambani has acquired the Indian stores in a deal worth Rs. 2850 crore.
The official statement released by METRO AG reads, “all METRO India stores will continue to operate under the METRO brand during an agreed transition period. For METRO employees and METRO customers, there will be no noticeable changes for the time being.” This adds another feather to the cap of Isha Ambani – led Reliance Retail, which recently also brought back the Chinese clothing store Shein to India in a massive deal worth thousands of crores.
Shein was banned by the government of India during the crackdown on Chinese apps. Through the acquisition of METRO Cash and Carry, Reliance will now establish more wholesale stores and supermarkets across Indian cities, offering major deals on the wholesale rates of major food, electrical appliances, and clothing brands.
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