Mukesh Ambani’s Reliance may open salons in your city as it reportedly plans to buy hair and skin care chain

The conglomerate has been known for acquiring chains such as Hamleys and startups including Zivame and Netmeds.

FPJ Web DeskUpdated: Saturday, November 05, 2022, 07:06 PM IST
article-image
Mukesh Ambani | File photo

From 5G internet to online groceries and e-commerce, Mukesh Ambani’s reliance has become a household name from an oil and textiles business. Over the years, the Indian behemoth has also grown to absorb media firms such as Network 18 and a global toy store chain Hamleys, among others. But now Reliance is reportedly set to embark in a completely different direction with plans to open salons across India.

Filling up its retail basket

The Ambani-led conglomerate is in talks with Chennai-based salon and spa brand naturals, which has already set up 650 outlets across the country. But what caught the eye of Reliance Retail is the company’s own line of hair and skin care products, wich will allow it to compete with other brands such as Hindustan Unilever Limited. As part of its retail expansion, the conglomerate has been building a product portfolio by acquiring milk delivery startup MilkBasket, and leading lingerie brand Zivame.

Marching ahead on the diversification path

Another similar addition to Reliance’s basket has been pharma delivery startup Netmeds, which enables doorstep delivery of medicines from pharmacies. At the same time, Mukesh Ambani’s daughter Isha is leading the luxury apparel segment to take on the likes of Zara and Mango. Meanwhile Anant Ambani will be looking at the diversification into new energy, under which Reliance has also invested in solar power startups in the US.

Speaking of venturing into uncharted territory, the Ambanis are also investing in online gaming, and plan to elevate Jio’s services beyond the skies, by beaming internet from low-orbit satellites, along the lines of Elon Musk’s Starlink.

How Naturals built a brand

Naturals has been around since the beginning of the new millennium, and had already set sights on scaling up the number of stores to 3000 across India by 2025, before the reported discussions with Reliance started. On LinkedIn, the firm’s co-founder called Reliance’s entry into the salon space as the largest turn in its history, but added that the conglomerate is yet to finalise the acquisition of a 49 per cent stake in Naturals.

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

FPIs buy Indian shares worth Rs 31,630 cr in November so far, expect to end aggressive rate hike

FPIs buy Indian shares worth Rs 31,630 cr in November so far, expect to end aggressive rate hike

5.4 million Twitter users' data leaked online, includes phone numbers, emails

5.4 million Twitter users' data leaked online, includes phone numbers, emails

NITI Aayog VC worried over return of old pension scheme, says it will burden future taxpayers

NITI Aayog VC worried over return of old pension scheme, says it will burden future taxpayers

Foxconn offers $1,800 bonus to workers who stay in iPhone city

Foxconn offers $1,800 bonus to workers who stay in iPhone city

Data of 500 million WhatsApp users leaked, up for sale online: Report

Data of 500 million WhatsApp users leaked, up for sale online: Report