Reliance Retail purchases Urban Ladder for $24.4 million

by RJ Shara | Nov 15, 2020 | Fundings and Exit

Reliance Retail has actually acquired a majority stake in furnishings and design platform Urban Ladder, making a broader push into e-commerce as the largest retail chain in India gears up to fight Amazon and Flipkart.
In a filing to the regional stock market, Reliance Retail stated it had actually obtained a 96%stake in Urban Ladder for […]
, making a more comprehensive push into e-commerce as the biggest retail chain in India gears up to fight Amazon and Flipkart. The Indian retail giant, which keeps the alternative to acquire the remainder stake in the seven-and-a-half-years-old startup, stated it has proposed to invest up to$10.06 million more in Urban Ladder by December 2023. It also runs a chain of physical retail shops in a number of Indian cities. In August, Reliance acquired a 60%stake in pharma marketplace Netmeds’parent company Vitalic for about $83.2 million….