Mukesh Ambani, India’s biggest retailer, was helped with the investment of $1.02 billion from U.S private equity firm, Silver Lake Partners. Silver Lake invested in his retail business to lead his company as India’s biggest retailer company.
After this investment, a severe competition has started between Asia’s richest man and Walmart Inc’s Flipkart, Jeff Bezos’ Amazon.com Inc.
The focus of all the retailers is on the middle-class families of India. Most of them are using online sites for purchasing food and groceries for the first time.
The Reliance Company started a service by the name of JioMart for online shopping of groceries. Reliance began to maintaining their position in the market through purchasing and are moving beyond their gas and oil business.
As grocery stores and fashion chains are operating at a high level, the retail business that is powered by Reliance’s Jio tech operates close to 12000 stores online.
Reliance owner says that in their retail business the investor named Silver Lake will get a 1.57% share in their profit.
In Airbnb and Twitter Inc, Silver Lake’s portfolio includes stakes. Silver Lake recently invested in the Indian retailer company Reliance for digital business and is willing to get a high amount of money. They say that Indian companies raise profit more than $20 billion from investors in which Alphabet Inc’s Google and Facebook Inc. are included.
Wazir Advisors’ retail consultant, Harminder Sahni, quoted that Amazon, Walmart, and Reliance competition is going to be real. He further said that the company to be bet on is Reliance while Amazon and Walmart are self-funded companies.