Mumbai, 18/12: Billionaire Mukesh Ambani-led Reliance will rival FMCG food businesses of ITC, Tata Consumer Products Ltd and Adani Wilmar with launch of brand ‘Independence’ for staples, processed foods, beverages and other daily essentials, analysts said.
Reliance Consumer Products Ltd (RCPL), the newly set up FMCG arm of Reliance Retail Ventures Ltd (RRVL) last week made a foray into staples with launch of brand Independence in line with announcement Ambani had made at the company’s annual shareholder meeting earlier this year.
RRVL is a wholly-owned subsidiary of Reliance Industries Ltd (RIL).
The launch is only in Gujarat, possibly on a pilot testing basis, and has indicated that products would be affordably priced. Post development of the brand, it will be rolled out nationally.
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