Having already launched first cluster of 11 neghbourhood convenience stores in Hyderabad less than three weeks ago, Reliance Retail is moving fast on stitching tie-ups with national and international brands in the fast moving and durables’ segments as it gears up to soon unveil multi-brand outlets and large format stores as a part of its Rs. 25,000 crore retail ambitions.
Markets are rife with the speculation that after recently having signed deals with swiss sports watch major Timex and Japanese consumer durables major Sanyo of Japan, Reliance has tied up with FMCG major Dabur for selling various pharmaceutical, personal care and food products through its retail outlets across the country.
Although Reliance officials are tight lipped about the deal, according to market sources, Reliance has entered into an agreement with Dabur to sell ayurvedic specialities like chyawanprash, personal care products like tooth pastes, shampoos and hair oil, and food products like honey and juices through Reliance Retail outlets.
Dabur also has a range range of home care products from Balsara stable, which it had acquired earlier. Reliance and Dabur, initially in a one year agreement, are likely to share margins and generate annual revenues of around Rs.one billion.
Tomoyo Nonaka, Sanyo Executive Director and Chairman, who recently visited India, is believed to have met top Reliance Retail officials earlier to tie-up for selling Sanyo’s range of airconditioning and other consumer electronic products.
Source: PTI/ ET