KKR is doubling its investment in Reliance Retail, valuing it at $100bn with a new $250m investment in India’s largest retail chain. The deal comes after the Qatar Investment Authority invested $1bn in Mukesh Ambani’s retail empire last month. New York-based private equity firm KKR invested about $755 million in Reliance Retail in 2020, when the Indian firm was valued at about $62 billion. Reliance Retail, part of the Reliance Industries conglomerate, operates 18,500 stores and digital commerce platforms in India. It sells everything from electronics to fashion and medicine. KKR invested $ 100 million in Reliance Retail with a valuation of $ 250 billion.
The investment comes at a time when Reliance Retail is expanding into new categories, including low-cost fast fashion, and is also considering a public listing. The company, which recently partnered with Shein to help the Chinese e-commerce firm re-enter India, has also acquired a number of other businesses. It has integrated.
We have been impressed throughout our investment period in Reliance Retail by the company’s vision and extensive work to empower retailers in India through digitalisation, as well as its resilience and performance despite the pandemic and other disruptions.Joe Bae, co-managing director of KKR
KKR is also a promoter of Jio Platforms, a subsidiary of Reliance Industries. Isha’s brother Akash heads Jio Platforms. Mukesh Ambani’s children were elevated to Reliance’s board last month as their father promised to mentor them to take charge of the company for the next five years.