Mukesh Ambani, the chairman of Reliance Industries Limited (RIL), officially started carrying out the succession plan this week. He stepped down as a director of Reliance Jio. Akash Ambani was chosen by the company’s board to lead the RIL subsidiary. According to the latest reports, Isha Ambani is reportedly in line to lead Reliance Retail. She currently oversees the retail division of the conglomerate.
Isha and Akash were both connected to RIL. They were a part of the teams that negotiated the investments made in the Reliance and Meta platforms. Isha Ambani, a Yale and Stanford graduate, will apparently be in charge of the retail segment, which generated a staggering $21.6 billion in revenue in the most recent fiscal year.
Reliance Retail Brands
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Reliance Retail, established in 2006, is the biggest retailer in India in terms of revenue. Foods, groceries, clothing, shoes, toys, household items, electronics, and farm equipment are all available at its store outlets. In addition, the business sells goods through its e-commerce channels and physical stores. The retail division is massively valued at $80-$125 billion.
Reliance Retail has more than 40 prestigious international brands. It includes Armani, Burberry, Diesel, GAS, Marks & Spencer, Superdry, Brooks Brothers, Steve Madden, and others. It also operates the Trends, Trends Woman, Trends Man, Trends Footwear, Project Eve, Reliance Jewels, and Hamley’s formats.
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Through AJIO, Reliance Retail has a significant presence on digital commerce platforms. It is a curated fashion and lifestyle retailer that delivers the top domestic and foreign brands right to customers’ doors. Another digital platform is Jio-mart, the largest hyper-local retail solution in India. It uses the extensive network of grocery stores operated by Reliance Retail and its well-established supply chain infrastructure. Reliance Retail’s formats serve customers in the value, mid, premium, and luxury segments.
Recent Brand Acquisition
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Only now can Reliance Retail’s aggressive acquisition of multiple designer labels be justified. It has purchased stakes in well-known fashion houses, including Manish Malhotra, Rahul Mishra, and Anamika Khanna, among others. As a result, the retail division has a strong group of Indian designers. If she takes over, Isha would be in charge of running the entire department.
About Isha Ambani
Isha Ambani is a member of the prominent Ambani family. She is the child of Mukesh Ambani, a business tycoon, and Neeta Ambani. Isha Ambani is a member of the boards of directors for his father’s businesses, Jio and Reliance Retail. She was raised in Mumbai, which also happens to be her birthplace. She attended the “Dhirubhai Ambani International School, Mumbai” for her education.
After passing out of high school, she immigrated to the United States. Isha Ambani graduated from Yale University with a master’s degree in psychology and South Asian studies. After completing her education, she worked as a business analyst at McKinsey & Company. After returning to India, she started working for her father’s business.
She has established herself as a successful businesswoman all over the world. Isha introduced AJIO, a Reliance Retail company specializing in online fashion retail, in 2016. She serves as the latter’s managing director. Additionally, she completed an MBA program at the Stanford Graduate School of Business in California.
What Is Next For The Ambani Family?
Mukesh Ambani appears to be advocating for a family-run corporation that would be evenly distributed among his children. It is encouraging to see the 65-year-old business entrepreneur shatter the long-held myth that women can’t enter the workforce. It is a testament to the new rules of the industry, the one where women are leaders and hold significant positions. Isha will be responsible for managing, maintaining, and growing Reliance Retail. We’re eager to observe how this change plays out over the next few months.
The top-level changes occur at a crucial stage for Reliance. Mukesh Ambani has spent years researching how wealthy families hand their creations down to the next generation.
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