Mukesh Amabni’s Reliance Retail officials met, Kishore Biyani, founder and CEO of Pantaloon(Biz Bazaar) retail chain.
No, they weren’t discussing a joint venture or an acquisition. Rather, the agenda was how Pantaloon and Reliance could carve out their own huge spaces in the retail sector, avoid head-on competition, and thereby jointly take on the multinational retail giants once they get the green signal to set up shop in India. Biyani was the sole Pantaloon representative in the discussions, while (more…)
Rising fuel prices and real estate costs in India has not dithered the ambitions of Reliance group chairman Mukesh Ambani. Unable to withstand local competition, Wal-Mart recently pulled out of Germany. Wal-Mart is still studying the viablity of retailing in India.
Reliance started its Retail venture by opting to manage a chain of retail stores (more…)