Reliance Industries Ltd plans to grow the number of low-cost Reliance Trends fashion stores across India to 2,500 from 557 over the next five years and integrate them with its online business, two people briefed on the plans said. The expansion is the latest move by the conglomerate's billionaire owner Mukesh Ambani to grab a dominant share of Indian consumer spending in a struggle with rivals, particularly e-commerce giants Amazon.com Inc and Walmart Inc's Flipkart. Reliance's plans to diversify into e-commerce and expand in fashion come on the heels of India's ...
Reliance to boost Trends fashion stores, challenge Amazon and Flipkart
Reliance's plans to diversify into e-commerce and expand in fashion come on the heels of India's new foreign investment curbs.
Promit Mukherjee | Reuters |