×
125
Fashion Jobs
SUPER FASHION
Manager -Accounts & Finance(For Garment Export House)
Permanent · Faridabad
LIMEAPPLE APPAREL
Ecommerce Expert With Digital Marketing Skills
Permanent · CHENNAI
EXCELLENTIA CAREERS HIRING FOR RENOWNED WELLNESS COMPANY
jO-Studio Manager/ Front Office-Pune, Ahmedabad, Gurgaon, Delhi, Surat
Permanent · Pune
GOKALDAS EXPORTS LTD
Factory Manager - Doddaballapur
Permanent · Tumakuru
SIYARAM SILK MILLS LTD
Area Sales Officer/ Area Sales Manager - Fabric Dtr
Permanent · Chennai
PSEXPORTS AND CONSOLIDATES PRIVATE LIMITED
sr.Merchandiser/ Merchant Manager/ Quality Incharge/ Fabric Manager
Permanent · Chennai
HUNGRY BIRD CONSULTING SERVICES PVT LTD.
Jewellery Sales Executive - Jewelry Store
Permanent · Hyderabad
SIYARAM SILK MILLS LTD
Regional Sales Manager Fabric - South Region (India)
Permanent · Chennai
SIYARAM SILK MILLS LTD
Regional Sales Manager - South (Chennai)
Permanent · Chennai
SIYARAM SILK MILLS LTD
Regional Sales Manager Dtr - South (Chennai)
Permanent · Chennai
TALENT INDIA
General Manager/vp - HR (Garments / Textile Industry) Urgently Rqd
Permanent · Bengaluru
HUNGRY BIRD CONSULTING SERVICES PVT LTD.
Jewellery Sales Executive - Jewelry Store
Permanent · Hyderabad
SODEXO
Hiring Facility Manager-Technical at Hyderabad Location
Permanent · Hyderabad
ISHIN
E-Commerce Head
Permanent · Mumbai
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Software Engineer Iii - Inventory Order, India - Move Icc
Permanent · Bengaluru
NIKE
Software Engineer ii – Move, Icc
Permanent · Bengaluru
By
Reuters
Published
Sep 9, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Silver Lake to invest US$1 billion in retail arm of India's Reliance

By
Reuters
Published
Sep 9, 2020

Reliance Industries Ltd said on Wednesday U.S. private equity firm Silver Lake Partners will invest US$1.02 billion in its retail business, helping the Mukesh Ambani-controlled company widen its lead as India's biggest retailer.


Silver Lake to invest US$1 billion in retail arm of India's Reliance - Reuters


The move also sets the stage for a three-way battle between Asia's richest man, Jeff Bezos' Amazon.com Inc and Walmart Inc's Flipkart to rope in the Indian middle class customer, many of whom are newly adopting online purchases of food and groceries due to the COVID-19 pandemic.

In May, Reliance launched online grocery service JioMart. It has been aggressively building its retail presence through acquisitions, moving beyond its mainstay oil and gas business.

Silver Lake will get a 1.75 percent stake in Reliance Retail, giving the business a pre-money equity value of 4.21 trillion rupees (US$57.14 billion), Reliance said. Powered by Reliance's Jio tech platform, the unit owns retail businesses as varied as grocery stores and fashion chains, and operates close to 12,000 stores.

"The real competition is going to be between Amazon, Walmart and Reliance," said Harminder Sahni of retail consultancy Wazir Advisors. "Walmart is self-funded and Amazon is too, so the company to bet on now is Reliance."

Reliance, which has been on a fund-raising spree, saw its share price rise as much as 1.5 percent in a weak Mumbai market .

Silver Lake, whose portfolio includes stakes in Airbnb and Twitter Inc , has previously invested in Reliance's digital business as part of a funding round that saw the Indian company raise more than US$20 billion from investors including Facebook Inc and Alphabet Inc's Google.

KKR & Co Inc is in advanced talks to invest at least US$1 billion in Reliance Retail, Bloomberg reported on Wednesday, citing people familiar with the matter. Reliance declined to comment on the report when contacted by Reuters.

© Thomson Reuters 2021 All rights reserved.