Reliance Retail buys 96%
stake in Urban Ladder. Option of 100% shareholding. Will invest Rs. 75
cr by Dec-2023. Will consolidate online furniture retailers. Create few
big dominant brands. Smaller retailers squeezed between behemoths and
unorganized sector, operating outside the tax system. UL valued at
Rs.750 cr, turnover Rs.434 cr, profit Rs.49.41 cr in 2019. No government
or regulatory approvals required. Not a related party transaction.
Funding in e-commerce furniture market has been subdued.
Reliance Retail Ventures acquires majority stake in Urban Ladder for Rs.182.12 cr.
No comments:
Post a Comment