Big Move: It’s Official, $2.4 Bn Reliance Retail To Launch E-commerce Business

In October 2013, there were reports of Reliance Retail’s e-commerce entry. The official word is out.

In its annual report (pdf) for 2013-14, the $67 bn Reliance Industries Limited said

The business is poised to launch multi-channel shopping in the coming year. The potential of e-commerce combined with the network of physical store locations will offer tremendous choice and convenience at a great value to the consumer.

Mukesh Ambani’s Reliance Industries Limited currently sells apparel brand Quiksilver and Stevemadden through websites. But the new launch could be much bigger, with multiple brands as well as a large variety of goods.

In case you are wondering how big, here’s a quick break up of Reliance Retail’s physical business.

Reliance Retail

Reliance’ competitor, the Future Group run by Kishore Biyani recently launched Big Bazaar Direct, a franchise based hybrid business (offline+ online) to increase its reach. Future Group re-launched its e-commerce business in 2010 and wanted to get to 10% of its overall sales from e-commerce. That plan didn’t work out.

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Also read: Why Reliance Bought Network18 When It Already “Owned” Network18?