According to reports, Reliance Retail’s consumer division has expanded Metro Cash & Carry’s reach beyond their typical concentration on business-to-business clients.
According to an article, Metro Cash & Carry is no longer had to abide by the FDI regulations as a result of Reliance Retail Ventures’ Rs 2,850 crore acquisition with Metro AG, which converted Metro Cash & Carry into an Indian firm.
On December 22, Reliance Retail Ventures Limited (RRVL), a division of Reliance Industries Ltd, inked binding agreements to pay Rs 2,850 crore in cash for a 100% ownership investment in Metro Cash and Carry India Pvt Ltd (Metro India).
As the country’s first firm to offer the cash-and-carry business model, Metro India, a fully owned subsidiary of Mero AG, began operations in India in 2003. With over 3,500 workers, it now operates 31 large format shops across 21 cities.
Through its retail network and eB2B app, the multi-channel B2B cash-and-carry wholesaler reaches over 3 million B2B clients in India, 1 million of whom are regular purchasers.
To cater to Kiranas and other institutional consumers, Reliance Retail operates 52 B2B outlets under the “Reliance Market” brand.
Metro caters to a wide range of customers, including hotels, restaurants, workplaces, businesses, small shops, and Kirana stores. It sells a variety of goods, including fruits, vegetables, basic foods, electronics, home items, and fashion.
DISCLAIMER:Reliance Industries is the only beneficiary of Independent Media Trust, which controls Network18 and TV18, the businesses that run news18.com.
