Reliance Retail has become the first Indian company to enter the world's top 200 retail chains as it has crossed USD 10 billion sales. The Mumbai-based conglomerate is further planning to continue to expand network in tier II and III cities in the country.
Reliance Retail is now reportedly planning to pose a challenge to the e-commerce industry ahead of the festival season.
According to The Economic Times, Reliance Retail, has rolled out an online store that offers competitive prices on televisions, smartphones, refrigerators, air conditioners, etc. The market leaders could expect a tough challenge from Reliance Retail as electronics account for nearly 60 per cent of the business for names including Flipkart and Amazon.
Discounts on some products can also be expected. Most of the products are expected to be priced at par with the Reliance Digital offline stores.
The company's e-tail experiments were so far limited to fashion formats including Ajio, Reliance Trends and Reliance Smart, which focussed on online grocery, FMCG, fruits and vegetables in Mumbai, Pune and Bengaluru.
According to reports, Reliance has been planning for online sales of mobile phones and consumer electronics for its employees for over a year.