Alibaba, a popular Chinese multinational e-commerce company seems to be very much keen in joining hands with Mukesh Ambani’s Reliance Retail to take on the Indian e-commerce space. According to the report from livemint.com, Alibaba e-commerce company is already in talks with Reliance Retail regarding the Mega JV, which could see an investment of $5 billion. The report highlighted that Jack Ma led Alibaba Group expressed interest in acquiring a significant stake in Mukesh Ambani's Reliance Retail for creating a market leader in digital space. Apple’s First Car Can Be Launched by 2023 Says Former Analyst Ming-Chi Kuo.
Moreover, Mukesh Ambani previously made an announcement that the company is focusing to take its retail business to new heights. This development seems to be in that particular direction to prelude to a major e-commerce fight in the country, which has intensified in the past few years.
The report also underlined that Alibaba Group is looking to acquire around 50 per cent of the stake in the Reliance Retail, which would cost the company at least $5 to $6 Billion. However, it is also speculated that Alibaba could also end up getting a low stake as part of this mega JV.
As Reliance Retail is looking to introduce a Paytm like platform, Alibaba would be benefited the same way it was during Paytm. Oppo F9 Pro Smartphone with VOOC Charging Launching in India Tomorrow.
Over the past few quarters, the retail business of Reliance has been performing seemingly well, Mukesh Ambani is now shifting the focus on the technology such as augmented reality and virtual reality for enhancing customers shopping experience.