Reliance is set to upgrade the e-commerce business by planning to acquire online furniture retailer Urban Ladder and milk delivery firm Milkbasket. The reliance is aiming to boost up the e-commerce wing of the JioMart services that were started in May. The JioMart will have to compete with Amazon.com and Walmart Inc’s Flipkart in India.
The Reliance strategy is based on the current situation. The COVID-19 is spread everywhere and the people are now staying indoors so the economy gets badly affected because of this pandemic. The people have opted for online purchasing instead of visiting stores. The reliance is bringing the availability of milk and furniture through online and making the JioMart stronger than the competitors. Reliance has some mega plans on the e-commerce sector and as a part of that they launched Jiomart and now JioMart is in No.1 position by beating Grofers and Bigbasket.
As per the reports the Reliance industries discussed with the Urban ladder and Milkbasket.The urban ladder is a topmost bigger online platform for selling the furniture and home decor. the deal with the urban ladder in the arrange $30 million and almost both are coming to the final deal as per the reports. Milkbasket is also delivering daily milk in various regions. The talk with Milkbasket is also in the advanced stage but now they got $5 Million funding and this takes place a change and the daily orders of milk also have been increased But the reliance will try to make deal with them. Milkbasket Talked with Amazon and Bigbasket but there is no result because they can’t reach the expectations of Milkbasket.
In recent months, Ambani has raised more than $20 billion for Reliance’s digital arm, Jio Platforms, including from Facebook and Alphabet’s Google. The company is focused on the JioMart and the e-commerce sector is growing day by day. Everyone is trying to overcome the pandemic situation by implementing new strategies and business lines like JioMart. The discussion on the acquiring of the Urban ladder and Milkbasket the Three of the companies are not giving any comments. The Reliance industries will acquire this as per the reports.