Business News / What does Mukesh Ambani sell? The list is very long, read here

Zoom News : Apr 25, 2024, 07:52 AM
Business News: Whatever products are used from waking up in the morning till sleeping at night, India's richest man Mukesh Ambani, Chairman of Reliance Industries, can run them on his own. From soap to coffee, groceries to personal care, clothing to furniture, mobile phones to fuel, media and entertainment, Reliance Group is present in your entire daily life. The roots of Reliance do not end here. You can roam around from stock market to mutual funds. You will find Reliance standing there also.

Universe of Reliance

However, what can give you tremendous experience of reliance in your daily life is related to consumer electronics and home devices. A Reliance TV set, washing machine, refrigerator, air conditioner, geyser, oven, etc. will transform your home into an Ambani universe. With Reliance's hold on India's data and communications market, in the near future you can have a smart home powered by as well as constituted by Reliance data and gadgets. ET has reported that Reliance plans to launch Wyzr, a new made-in-India brand for consumer electronics and home appliances, which will be another new business for Reliance after telecom, digital services, retail and finance.

Jio's huge network

Reliance's retail unit Reliance Retail recently launched Wyzr air cooler and plans to expand its range to categories like televisions, washing machines, refrigerators, air conditioners, small appliances and LED bulbs. Reliance Retail CEO Dinesh Taluja told analysts during RIL's fourth quarter earnings call on April 22 without giving further details about the new brand launch. Reliance's retail business Mukesh Ambani's first major move outside his traditional oil and petrochemical business came with Reliance Jio, which became India's largest telecom company, disrupting the market with ultra-cheap data and phones. Jio's huge customer network and penetration in the hinterland due to its affordable rates has also helped Reliance grow its retail business by stepping up its e-commerce game.

Its strength in the telecom market has fueled its e-commerce business, while its growing e-commerce and retail businesses have also played a bigger role in FMCG by buying brands and building their own. Its entry into consumer electronics and home devices will be boosted by its already vast retail and e-commerce network.

Largest store network

Reliance Retail has the largest store network in India, with a total of 18,774 stores across cities, towns and villages, covering over 66% of the country's population and approximately 30 crore registered customers. Its new FMCG business is achieving tremendous success. Reliance Consumer Products (RCPL) reported sales of Rs 3,000 crore in FY24, its first full year of operations, ET reported based on information from industry executives. To put RCPL's performance in perspective, Emami with five decades of operation posted sales of Rs 3,400 crore in FY23, while oral care market leader Colgate-Palmolive (India) posted revenues of Rs 5,226 crore in the same year. Which marked its eighth decade of operation. Obviously, Mukesh Ambani has dominance in the FMCG sector.