Amazon run by Jeff Bezos and Reliance Group led by Mukesh Ambani is focused on the Indian retail space, and both want to grow their e-commerce market share and absorb more through acquisition. The Future Group, owned by Kishore Biyani, struck an acquisition deal with Reliance for USD 3.4 billion in August 2020. Future Group owns close to 2,000 retail stores in India in over 400 cities.
Reliance has a small market share in the online retail space, and focus is to accelerate the market share as Amazon and Flipkart are currently the two dominant players. Reliance raised close to USD 5 billion from various investors to complete this deal. As per the expert’s, if the deal fails, then the Future Group might have to go for liquidation.