Companies

RIL in talks to buy Urban Ladder, Milkbasket: Report

Hemani Seth Mumbai | Updated on August 17, 2020 Published on August 17, 2020

RIL seen eyeing deals to boost e-commerce business

Reliance Industries (RIL) is in talks to acquire online furniture brand Urban Ladder and grocery delivery start-up Milkbasket to further strengthen its position in the e-commerce business, according to a Times of India report.

The news comes at a time when RIL is reportedly in talks with the Future Group to acquire its retail venture, which includes over 1,700 stores such as Big Bazaar and ezone.

According to the ToI report, the discussions with Urban Ladder are at an advanced stage. The online furniture brand, which has raised over $115 million so far, had held discussions with Flipkart and Fab India before the RIL talks, the report claimed.

Milkbasket is also leaning towards RIL after its talks with Amazon and Bigbasket failed to fructify. The grocery delivery start-up had closed a fresh round of investment led by Inflection Point Ventures along with existing investors for $5.5 million, in June.

RIL is also n talks with e-pharmacy start-up Netmeds and lingerie retailer Zivame, the report said.

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Published on August 17, 2020
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