Business News / Reliance will compete with Tata's Zudio, this is the complete plan

Zoom News : Mar 01, 2024, 08:00 AM
Business News: Billionaire industrialist Mukesh Ambani does not want to leave any segment where there is potential for big retail business. Maintaining its aggressive stance in the retail sector, the country's largest retail company Reliance Retail has till now either partnered with many big brands or purchased stakes in them. Now Reliance Industries has made a complete plan to compete with Tata Group's 'low-cost' brand 'Judio'. These days, Reliance Group is in talks to bring Britain's famous fashion brand Primark to India. This is likely to give tough competition not only to Tata's Judio but also to Landmark Group's 'Max' brand and Shoppers Stop's 'In-Tune' brand.

Primark is famous for clothes and shoes in Britain

Primark is a 55 year old brand. It is famous not only in Britain but throughout Europe for its low-cost clothes and shoes. Primark itself has been planning to enter the Indian market for a long time and is evaluating it. According to the news of ET, it can enter India through joint venture or license route by partnering with Reliance.

Most of Primark's stores in Britain and Europe are on highways. The company does not follow the policy of opening its stores in malls like other foreign brands. After Covid, Primark's global revenue has also seen a tremendous jump. The average price of Primark goods is much lower than brands like H&M and Uni Qlo. Most of Primark's clothes and shoes are made in China. After this, many small and big factories of India come second among its suppliers.

This deal is according to Reliance's strategy

If the deal between Reliance and Primark is confirmed, it will be in accordance with its retail strategy. Reliance Retail has included many national and international brands. Being the country's largest retail company, it tries to have as many brands as possible under one roof.