Multi-billionaire Mukesh Ambani has started his next campaign after upending the telecom services industry. The country’s sizable fast-moving consumer goods (FMCG) industry, which is already the fourth-largest in the world, is where he is focusing his attention this time. Ambani’s Reliance forayed into the market today with a variety of fast-moving packaged food and drinks (F&B) under the Independence name. To begin with, it selected Gujarat as the market for the items’ introduction today. Ambani and his family are really from a western Indian state.
The firm has prepared a diverse selection of packaged goods items under Independence. Reliance’s effort includes almost all significant F&B categories, from branded rice, biscuits, edible oil, and packaged drinking water to wheat flour, crystalline sugar, besan, and toor dal. Director of Reliance Retail Ventures Isha Ambani made the announcement, saying, “I am happy to announce the launch of our own FMCG brand INDEPENDENCE which brings a wide choice of high quality and reasonably priced products including edible oils, pulses, grains, packaged foods, and other daily need products. The brand’s slogan, “Kan Kan Mein Bharat,” which stands for “really Indian answers for genuine Indian issues,” arouses Indians’ emotions and gives them a sense of belonging.
Reliance Consumer Products Ltd., a wholly-owned subsidiary of Ambani’s massive consumer firm Reliance Retail Ventures, is the owner of the packaged food and beverage brand (RRVL). In addition to running the conglomerate’s retail division, RRVL also runs the recently created FMCG division. RRVL is by far the biggest retailer in India, with more than 16,500 locations, 2 million merchants, and a revenue of close to Rs 200,000 crore annually.
According to reports, Reliance has launched the initiative to test the waters even though it plans to continue with the Gujarat market for a while and develop its F&B brand there. It eventually intends to expand its F&B offering over all of India. Reliance Consumer Products also has an advantage over other FMCG manufacturers because RRVL is its parent company and already has a sizable network of contemporary retail stores.
Nearly 200 million retail consumers were serviced by RRVL last year, an increase of 23% over FY2021, and its e-commerce platforms (such JioMart and Milk Basket) processed an average of 600,000 orders each day. Isha claims that the two-year-old merchant partner initiative of RRVL currently has over 2 million retailers on board. She stated at the Reliance Industries annual general meeting in August that “we add about 150,000 partners a month and are on course to [reach] 1 crore merchants (partners) as we expand our presence to cover the entire country, serving over 7,500 towns and over 500,000 villages in the next five years.” Further supporting it, it has partnered with Meta (formerly Facebook) to make it possible for customers to place orders using WhatsApp.
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