Guess who looks more like a global, octopus-like Amazon in India? (Hint: It isn't Amazon) | ZDNet
25 March 2019 3:37 PM GMT
E-commerce giants like Amazon and Flipkart may soon not be able to compete with Reliance's interlocking new-era businesses. However, for that to happen, Reliance needs to think and act like a firm that can genuinely innovate.
- Imagine an Amazon that, in addition to being the largest online shop in North America, was also the largest telecom company, the largest bricks-and-mortar retail chain, the biggest high-bandwidth cable outfit, and one of the largest digital media and entertainment companies with properties in film, television channels, cricket teams, and influential newspapers and magazines.
- Reliance Jio, the largest telecom company in India at 275 million customers and growing; JioGigaFiber, the largest broadband provider at 50 million customers and growing; TV stations and digital news including CNBC TV18, CNN-IBN, CNN Awaz , Money Control, Forbes India, and India
- Today; and a web of 10,000 of its own stores nationwide that include 5,500 Jio telecom touchpoints, its Reliance Retail enterprise with 9,156 stores in 5,800 cities (with total revenues of close to $7 billion scheduled to grow 12-fold to $138 billion in the next 10 years), BS fast growing fashion brand Reliance Trends, consumer electronics chain Reliance Digital, and well-established grocery chain Reliance Fresh, which is slated to play a part in Reliances online grocery play.
- Also, the new rules dictate that e-commerce companies are not allowed to source more than 25 percent from any one supplier (therefore preventing themselves from becoming ad hoc self-suppliers of products that make logistics and quality control so much easier).
- Mukesh Ambani's grand vision for Reliance doesn't just stop at the universe described in above paragraphs.