Reliance is ready to take on Amazon and Walmart’s Flipkart with JioMart launch

guest · Dec 31, 2019

India’s richest man is ready to take on Amazon and Walmart’s Flipkart
December 31, 2019
https://techcrunch.com/2019/12/30/reliance-retail-jiomart-launch/

As Amazon and Walmart-owned Flipkart spend billions to make a dent in India’s retail market and reel from recent regulatory hurdles, the two companies have stumbled upon a new challenge: Mukesh Ambani, Asia’s richest man.

Reliance Retail and Reliance Jio, two subsidiaries of Ambani’s Reliance Industries, said they have soft launched JioMart, their e-commerce venture that works closely with neighbourhood stores, in parts of the state of Maharashtra — Navi Mumbai, Kalyan and Thane.
The e-commerce venture, which is being marketed as “Desh Ki Nayi Dukaan” (Hindi for new store of the country), currently offers a catalog of 50,000 grocery items and promises “free and express delivery.”

If there is anyone in India who is positioned to compete with heavily-backed Amazon and Walmart, it’s him. Reliance Retail, which was founded in 2006, is the largest retailer in the country by revenue.
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guest · May 23, 2020

JioMart, the e-commerce venture from India’s richest man, launches in additional cities
May 24, 2020
https://techcrunch.com/2020/05/23/j...as-richest-man-launches-in-additional-cities/

The rationale behind the deluge of dollars flooding into billionaire Mukesh Ambani’s Reliance Jio Platforms is beginning to become more clear as his e-commerce venture JioMart starts rolling out to more people across India.

An e-commerce venture between the nation’s top telecom operator Jio Platforms and top retail chain Jio Retail, JioMart just launched its new website and started accepting orders in dozens of metro, tier 1 and tier 2 cities including Delhi, Chennai, Kolkata, Bangalore, Pune, Bokaro, Bathinda, Ahmedabad, Gurgaon, and Dehradun.
Before the expansion on Saturday, the service was available in three suburbs of Mumbai. The service now includes perishables such as fruits and vegetables, and dairy items in addition to staples and other grocery products as it makes its pitch to Indian households across the country.

JioMart may have Amazon and Flipkart in its sights, but in its current form, however, the company is going to be more of a headache for Grofers and BigBasket, the top grocery delivery startups in India.
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Reliance Industries, the most valued firm in India and parent entity of Jio Platforms and Reliance Retail, plans to expand JioMart to more than a thousand districts in a year and also widen its catalog to include electronics and office supplies among a variety of other categories, a person familiar with the matter told TechCrunch. A Reliance Jio spokesperson declined to comment.

A handful of firms have attempted — and failed — to launch their e-commerce websites over the years in India, where more than 95% of sales still occur through brick and mortar stores. But Ambani is uniquely positioned to fight the duopoly of Amazon and Walmart’s Flipkart — [...]
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guest · Jul 17, 2020

India's Reliance seen emerging as bigger threat for U.S. firms like Amazon, Walmart
July 16, 2020
https://www.reuters.com/article/us-...r-u-s-firms-like-amazon-walmart-idUSKCN24H17W

A $20 billion fund raising spree may take India’s Reliance closer to its dream of becoming a digital giant, further threatening the ambitious plans U.S. companies like Amazon, Walmart and Zoom have for India.

On Wednesday, billionaire chairman Mukesh Ambani said Reliance will expand e-commerce platform JioMart - which connects small retailers with consumers - to offer not just groceries but also electronics and fashion goods.

“Jio Platforms not only has the backend infrastructure and development capabilities but also an ever expanding captive consumer base,” said Mayank Vishnoi of Singapore-based financial advisory firm Resfeber International.
“The addition of new digital products targeting various sectors will pose threats to many large dominant players. Having strategic partners like Facebook and Google validates that Reliance gameplan is real.”
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Asked about the potential impact on foreign businesses eyeing India, one local industry executive who advises U.S. multinationals said: “Amazon and Walmart should be scared.”
To be sure, Reliance will face stiff competition from Amazon and Walmart’s Flipkart, as both companies have deep pockets and an already well-established warehousing and logistics supply chain in the country.
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