Mumbai, August 30 2020: Last night, Reliance Retail Ventures subsidiary of Reliance Industries announced that it is acquiring the retail & wholesale business plus  the logistics & warehousing business  of the Kishore Biyani-led Future Group for Rs  24,713 crore (Rs 247.13 billion), amaking it the largest  consumer retailer in India
The buy includes well known brands that straddle food, fashion and fast moving consumer goods retail chains like Big Bazaar and BrandFactory,  the fashion label fbb, clothing malls like Central, grocery chains like Easyday and Nilgiris as well as bookshops like  WHSmith.
These brands and retail outlets covered over 40 cities with almost 2000 stores employing over 70,000 in front and backend operations, which saw 2 million footfalls every day.
Kishore Biyani started his mass retail retail journey in1987 with the Pantaloon clothing brand of  which he ultimately ceded control in 2012 to the Aditya Birla group. The Big Bazaar chain of budget supermarkets and department stores  all rolled into one started in 2001.

Said Isha Ambani, Director, Reliance Retail Ventures: "With this transaction, we are pleased to provide a home to the renowned formats and brands of Future Group as well as preserve its business ecosystem, which have played an important role in the evolution of modern retail in India. We hope to continue the growth momentum of the retail industry with our unique model of active collaboration with small merchants and kiranas as well as large consumer brands. We are committed to continue providing value to our consumers across the country."