Mukesh Ambani begins trial of Reliance’s next big thing, Isha Ambani’s Rs 840000 crore brand to…

Mukesh Ambani is currently the richest man in India with a massive net worth of Rs 969084 crore, as per Forbes. He is the chairperson of Reliance Industries, India’s most valuable company with a market cap of Rs 2003000 crore. Mukesh Ambani is involved in a wide range of business and he is now gearing up to take on quick commerce giants like Blinkit and Zepto. As per a report by the Economic Times, Reliance Retail has started a pilot program of immediate delivery service for groceries and fast-moving consumer goods (FMCG) in Mumbai. With this service, the company is trying to fulfill the order in an hour. 

For those who are unaware, Reliance Retail is spearheaded by Mukesh Ambani’s daughter Isha Ambani and it is one of the best performing subsidiaries of Reliance Industries. Valued at over Rs 840000 crore, Reliance Retail is using the JioMart mobile application for the new pilot. The new ‘hyperlocal delivery’ option can be found integrated in the app.

The report reveals that Reliance Retail aims to reduce delivery times to 30-45 minutes as the number of stores linked with the system go up. As of now, Reliance takes around 12 hours to deliver daily necessities ordered online. In a few cases, the order may take up to three days.

The quick ecommerce may be the next big thing for Mukesh Ambani. Last week, quick ecommerce platform Zepto raised Rs 5559 crore at a valuation of Rs 30101 crore. This shows the potential in the segment that may prove to be a gold mine for the Ambani family.