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Reliance Retail buys 96% stake in Urban Ladder for over Rs 182 crore

The deal is expected to help Mukesh Ambani-headed RIL take on players such as Amazon, Flipkart, Ikea, and smaller rival Pepperfry

Reliance Retail
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RRVL has the option of acquiring the remaining stake. It has proposed to make a further investment of up to Rs 75 crore, which is expected to be completed by December 2023

Peerzada Abrar Bengaluru
Reliance Industries’ (RIL’s) retail arm has acquired 96 per cent stake in Bengaluru-based online furniture retailer Urban Ladder for over Rs 182 crore.

The deal is expected to help Mukesh Ambani-headed RIL take on players such as Jeff Bezos-led Amazon, Walmart-owned Flipkart, Swedish home furnishing major Ikea, and smaller rival Pepperfry in the battle for India’s $32 billion worth furniture market.

Reliance Retail Ventures (RRVL), a subsidiary of RIL, has acquired equity shares of Urban Ladder Home Decor Solutions (Urban Ladder) for a cash consideration of Rs 182.12 crore, RIL said in a statement. This investment represents about 96 per

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First Published: Nov 16 2020 | 1:41 AM IST

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