While Amazon and Walmart are stepping up investments in India, Reliance Retail Ventures (2022 sales of US$31.7 billion, net margin of 3.5% of sales) raised US$250 million from the New-York based fund KKR on September 11. This gives the retailer, run by Isha Ambani, Mukesh Ambani‘s daughter, a valuation of US$100 billion. KKR’s stake was thus increased from 1.17% to 1.42%. With 18,500 stores, Reliance Retail is also well advanced in e-commerce (JioMart platform). Since August 2022, it...
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