India: Billionaire Mukesh Ambani-led Reliance Industries plans e-commerce foray, smarphones launch this year

Mukesh Ambani, Chairman & Managing Director, Reliance Industries

Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) will launch its e-commerce platforms for fashion and electronic devices by the end of the current year, company executives said on the sidelines of a press conference to announce the firm’s second quarter earnings.

It will also launch its own smartphones under the brand name ‘LYF’ as it prepares to launch its fourth-generation (4G) mobile services later this year.

Reliance Jio Infocomm Ltd (R-Jio) is expected to roll out commercial telecom services from December. R-Jio, or Jio as the company may finally call itself, is currently in the testing phase for most of its offerings, including 4G services, a host of mobile phone applications and delivery of television content over its fibre optic network.

“The plan is to start the launch of e-commerce along with R-Jio but it will happen in a phased manner,” said Gaurav Jain, strategy head, Reliance Retail Ltd.

The fashion e-commerce platform will offer fashion and lifestyle products sourced through partnerships with international brands from Singapore, Australia, Russia, Switzerland, China and Turkey.

A separate e-commerce platform will sell all devices currently available at Reliance Digital, the company’s electronic retail chain.

Both will start operating by the end of the year. The online grocery retail business, which is already operational, will also be expanded beyond Mumbai, where it is currently offered.

In addition, the company will also start rolling out an e-commerce platform for its cash-and-carry business aimed at the 1.8 million kirana stores that it currently partners with.

The platform is under testing and already 150,000 small and medium retailers have been mapped, according to the company’s investor presentation.

Meanwhile, as the company gets closer to launching its 4G services, devices supporting those services will go on sale from Diwali.

The phones, available across price points, will be launched and marketed by Reliance Retail.

Sunil Dutt, products head, R-Jio, said the 4G smartphones will be available across price segments—from premium to affordable.

Also Read: India’s Aditya Birla Group launches online fashion store abof.com

India: E-commerce hype masks heavy losses

This article was first published on Livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.