Ambani gears up for bigger pie in FMCG
With launch of brand ‘Independence’, billionaire is taking on market leaders ITC, Patanjali, Tata, Adani
Mukesh Ambani's Near Delhi-NCR City Attracts Rs 1200 Cr, Sells 2000 Plots
New Delhi: Billionaire Mukesh Ambani-led Reliance will rival FMCG food businesses of ITC, Tata Consumer Products Ltd and Adani Wilmar with launch of brand 'Independence' for staples, processed foods, beverages and other daily essentials, analysts said.
Reliance Consumer Products Ltd (RCPL), the newly set up FMCG arm of Reliance Retail Ventures Ltd (RRVL), last week made a foray into staples with launch of brand Independence in line with announcement Ambani had made at the company's annual shareholder meeting earlier this year. RRVL is a wholly-owned subsidiary of Reliance Industries Ltd (RIL).
The launch is only in Gujarat, possibly on a pilot testing basis, and has indicated that products would be affordably priced. Post development of the brand, it will be rolled out nationally. It will be "competing with Adani Wilmar in edible oil, grains and pulses; Patanjali Foods in biscuits, edible oil, packaged atta; Parle and Britannia in biscuits; Tata Consumer in pulses, packaged water; and ITC in packaged atta, biscuits," brokerage Nomura said. Independence line of products will be available on the Jio Mart app and Reliance retail stores currently. In coming months, the distribution is to be extended to FMCG retailers (kirana stores). The categories include biscuits, packaged water, edible oil, packaged atta (wheat flour), besan (gram flour), pulses, grains and sugar.
