INSUBCONTINENT EXCLUSIVE:
Young adults in India are about to be spoiled for choice by two of its largest conglomerates
with a $600 million wedding bash for his son, is now in a battle to hawk fashion to paying customers
Yet in this fight, Mukesh Ambani is getting beaten by a much older conglomerate
have tripled over their pre-pandemic levels in dollar terms
Net profit has surged 12 times
Quick inventory turnover in places where rents are reasonable means high profits even at low margins.
All of this is a problem for Ambani
His flagship Reliance Industries Ltd
Reliance Retail raised over $6 billion during the pandemic from sovereign wealth funds in the Middle East and Singapore, along with General
Atlantic and Silver Lake Partners
Last year, it took in more money from Qatar Investment Authority, Abu Dhabi Investment Authority and KKR - Co
at a valuation of $100 billion
1 task is to now lead the unit to a blockbuster initial public offering or a spinoff
New Delhi had responded to its 2020 border skirmishes with China by banning some Chinese apps
The e-commerce firm, wildly popular with Indian teenagers, had to leave
As the government starts relaxing its stance, Shein is making a comeback, according to media reports, but with platform, data and operations
available under Rs 999 ($12), pitching it directly against Zudio
Nevertheless, the Tata firm racked up 56 per cent expansion in sales last quarter.
Growing 5 percentage points faster than overall sales,
value retail, excluding food and grocery, will be a $170 billion market in India by 2026, according to consulting firm Wazir Advisors
Apparel accounts for the biggest share of the pie
With a public float drawing near, Ambani needs a quick win
As part of his succession plan, the tycoon appears to have earmarked retail for his 32-year-old daughter, Isha Ambani
ubiquitous Indian version of Zara
per cent in one year, according to the latest quarterly earnings presentation
That figure is not more than 15 per cent to 20 per cent for Reliance Retail, according to the Ken, a news website
Ambani has some catching-up to do
Shein is a great name to throw at young buyers, but it may not be enough to close the gap.
The stakes are high on the other side, too
Sustaining the success at Trent is also important to Noel Tata, 67
He has a shot at joining the board of the holding company that controls the sprawling empire.
Whatever the outcome of the contest, one
thing is clear: When it comes to affordable casual wear, young adults in India are about to be spoiled for choice by two of its largest
They do not reflect the views of www.business-standard.com or the Business Standard newspaperFirst Published: Aug 20 2024 | 7:59 AMIST
