The retail arm of Reliance Industries announces the launch of a website to deliver fresh grocery products to select neighborhoods in Mumbai.
RelianceFreshDirect.com, the company's first venture in the e-commerce space, will sell fruits, vegetables, dairy products, groceries, packaged goods, confectionary items and personal care products to residents of South Mumbai, Navi Mumbai and parts of Thane in India, reported the Economic Times. Products will mirror offerings in the company's physical retail stores, Reliance Fresh and Reliance Mart.
"We continue to explore newer markets and channels to leverage our solid foundation. The launch of RelianceFreshDirect.com adds the 'direct delivery' channel to our network, besides convenience and choice to our valued customers. Over time we will certainly augment the direct delivery model," a spokesperson of the company told the Economic Times.
The venture will operate through a subsidiary. Deliveries will originate from either the nearest Reliance store or its other distribution channels. Thus far, no expansion has been announced.
According to Technopak Advisors, India's e-commerce market is worth $10 billion and is expected to reach $200 billion by 2020.
With growing retail potential in the country, many U.S. companies are looking to get into the Indian market. U.S.-based branding and licensing company Authentic Brands Group recently signed a franchisee agreement with India's Reliance Brands for its Juicy Couture line. Reliance Brands plans to open 20 standalone stores of the casual fashion line in India starting in 2015. And over the summer, Gap (NYSE:GPS) announced it would be working with franchise partner Arvind Lifestyle Brand to open 40 new Gap stores in India next year, starting with locations in Mumbai and New Delhi.
-See this Economic Times article
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