Reliance Retail, led by Mukesh Ambani and Isha Ambani, has made a significant Rs 2850 crore deal with METRO Cash and Carry, a renowned German brand. This move comes after Reliance Retail successfully brought several major brands like Shein, Zara, and Armani to India. The acquisition of METRO Cash and Carry allows Reliance Retail to establish more wholesale stores and supermarkets across Indian cities.
METRO Cash and Carry, a wholesaling company owned by the German conglomerate METRO AG, had previously operated multiple stores in India under the brand name India Cash and Carry. Reliance Retail has now acquired all 31 wholesale stores in a deal worth thousands of crores, bringing them under the Reliance brand.
According to an official statement by METRO AG, the METRO India stores will continue to operate under the METRO brand during a transition period, ensuring no noticeable changes for employees and customers.
This acquisition further strengthens Isha Ambani-led Reliance Retail’s portfolio, which recently made headlines for bringing back the popular Chinese clothing store Shein to India in a massive deal. By acquiring METRO Cash and Carry, Reliance Retail will expand its presence in the wholesale market, offering competitive rates on major food, electrical appliance, and clothing brands.
Reliance Retail’s strategic acquisitions and partnerships continue to drive its growth and solidify its position as a leading player in India’s retail sector.
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