As per the latest sources, Reliance is planning to acquire- Urban Ladder Brand and Milkbasket as it will prove out to be fruitful for strengthening their e-commerce play in the Indian market.
Currently, Mukesh Ambani’s company- Conglomerate is also in talks to take over pharmacy start-up Netmeds and Lingerie retailer Zivame.
The deal with Urban ladder- Online furniture platform and Milkbasket- Online Milk delivery platform is going on from last few months and now it is at advance level and about to reach on the conclusion of the deal, marked by the sources. The deal with Urban Ladder is valued at around $30 Million. The deal has not been finalized yet.
Milkbasket was earlier in talks with Bigbasket and Amazon for the acquisition, it proved out to be futile due to some mismatches in their perception in the deal. Milkbasket is not negotiating at a lower price, it is thriving for more valuation for their company. Later, Bigbasket acquired DailyNinja to boost its subscription-based morning delivery business to reach out to many homes in India.
Since the pandemic, people are avoiding to go out and this has paved a way for online groceries delivery platforms such as Milkbasket and Bigbasket to increase their business which also includes daily needs such as milk, vegetables, bread, etc.
In the month of June, Milkbasket disclosed that it serves around 1 lakh households in various cities- Gurgaon, Noida, Dwarka, Hyderabad and Banglore.
Recently in an interview, Reliance disclosed that its Jiomart- online grocery venture of Reliance India Limited has reached to about 4 lakhs orders in a day.
As the online delivery platforms of groceries, food items and daily essentials have seen a sharp rise in pandemic, similarly online furniture delivery platforms such as Urban Ladder has also seen a growth in business due to the new trend of work from home and online classes of schools and colleges.
The urban ladder also has many offline stores which were closed during the lockdown period of its majority of sales. Urban ladder raised $115 Million has also been in talks with Flipkart and FabIndia this year, reportedly.
Reliance, in order to expand the reach to more Indian customers and to spread its business networks in more domains, will be more than happy to finalize these deals and eventually acquire Urban Ladder and Milkbasket as Reliance aims to compete with Amazon, Flipkart, Wallmart and marks its own presence in e-commerce domain.