Mukesh Ambani plans to launch new service, to take on Blinkit, BigBasket, Zepto, Instamart with...

Mukesh Ambani is the chairman of Reliance Industries, one of the largest companies in India with a market cap of Rs 1950000 crore. He is the richest man in Asia with a net worth of Rs 948000 crore, as per Forbes. The 67-year-old billionaire continues to expand his business empire. His Reliance is already leading in telecom and other sectors. He is now planning to launch a quick commerce service through JioMart, as per a TOI report.

JioMart will take on Blinkit, BigBasket, Instamart, and Zepto. JioMart plans to deliver groceries in 30 minutes initially in 7-8 cities and eventually across 1,000 cities. Reliance had discontinued its 90-minute grocery delivery service JioMart Express a year ago. The company is now focusing on deliveries under 30 minutes, the report said quoting sources. However, Reliance Retail, a Reliance subsidiary, did not respond to queries, the report stated. At present, JioMart offers slotted and next-day delivery options to customers.

JioMart's to-be rivals Blinkit, BigBasket, Instamart, and Zepto follow a dark store model. However, JioMart plans to leverage Reliance Retail's extensive network of over 18,000 stores and fulfilment centres to fulfil orders.

The new plan of Reliance comes at a time when Walmart's Flipkart is also gearing up to enter into the quick commerce space. The quick commerce service has found rapid traction, especially among millennials and Gen Zs.

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