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What started as a Sunday afternoon tweet by comedian <keyword id="20947562" type="General" weightage="20" keywordseo="Kunal-Kamra" source="keywords">Kunal Kamra</keyword> criticising <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword>’s S1 series scooters quickly escalated into a fiery exchange with <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword>, CEO of <keyword id="19945904" type="General" weightage="100" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="261" meta.entityid="Ola">Ola</keyword>. It all began when <keyword id="23458070" type="General" weightage="20" keywordseo="kamra" source="keywords">Kamra</keyword> had posted a picture showing several Ola scooters gathering dust at a dealership, highlighting concerns over poor service. However, the situation intensified when Aggarwal responded, accusing Kamra of posting a “paid tweet” and launching personal digs at the comedian’s career. The feud between the two public figures has sparked a wave of reactions on social media, dividing Twitter users. While some users echoed Kamra’s frustrations about Ola’s <keyword id="21440362" type="General" weightage="20" keywordseo="service-quality" source="keywords">service quality</keyword>, others defended Aggarwal’s sharp retorts. The argument has moved beyond the two individuals, turning into a broader debate about the state of customer service in India’s <keyword id="19906970" type="General" weightage="20" keywordseo="electric-vehicle" source="keywords">electric vehicle</keyword> sector. <h2>Internet complains about Ola’s Service Quality </h2> Several users shared their experiences with Ola’s service issues, siding with Kamra’s criticisms. One Twitter user wrote, “It’s all fun and all, Bhavish sir, but with all the complaints, the ‘Bhavishya’ of OLA Scooters is not looking good. Rather than hitting out at Kunal, tell people the plan to solve the 80k and growing complaints.” Many shared similar sentiments, recounting personal stories of service delays and unresolved issues. For instance, one customer revealed, “It’s been only 4 months since my brother bought the Ola S1 Pro, and he’s gone to the service centre at least 6-7 times, sometimes due to software issues, sometimes due to quality issues. Every day, a new problem arises.” Another wrote, “A friend of mine bought an ola scooter, after eight months it started giving trouble, he followed up to the service centre for 6 months but they didn't resolve his issue, In the end he paid 24000/- to get the issue resolved.” Yet another user expressed their dissatisfaction bluntly, saying, “Pay your staff properly first! Instead of calling out Kamra, put that money to better use—expand your service infrastructure, fix quality checks, then show off your wealth on social media!” Meanwhile, another X user said that they can only imagine “how badly customer service behaves with individuals, if this is how top management reacts to criticism.” <h2>Support for OLA CEO </h2> On the other hand, some users supported Aggarwal, praising his leadership and dismissing Kamra’s criticisms as an attempt to stay relevant. “Kunal, you missed the comedy gig and now think you're leading the charge? What bhavish and ola are doing is clearly out of your sight, that is solving "real problems". Feel free to visit one—maybe learn some skills beyond just creating nuisance,” a user wrote. Another user commented, “Kunal Kamra has a rare disease of poking everywhere to revive his sinking career! Ignore these stunts, Bhavish, you’ve built an amazing company.” Another echoed this sentiment, adding, “Founder mode on.” Some, on the other hand, took a more balanced stance. A user wrote, “Reply might sound arrogant here, but sometimes you have to show people their place. Bhavish did the right thing,” one person tweeted. However, he also acknowledged there are real issues with Ola’s service. “Let’s agree there’s an issue with service,” he added. Here are some reactions: <div type="image" title="google (5)" msid="114007569" hostid="261" sizebytes="643332"></div> As the feud unfolds, it has highlighted deeper concerns around accountability in the electric vehicle market. The war of words may have begun with Kamra’s tweet, but the chorus of complaints from Ola customers underscores the broader dissatisfaction with after-sales service. This exchange, while entertaining for many, has become a focal point for customers demanding better support from companies as India pushes towards a greener transportation future.

'Pay your staff properly, solve the 80,000 complaints first': Internet reacts on Ola CEO Bhavish Aggarwal and Kunal Kamra feud

<ul><li><keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> announced that it has entered an agreement to acquire online lending platform <keyword id="6327698" type="General" weightage="20" keywordseo="avail-finance" source="Orion">Avail Finance</keyword>.</li><li>Ola had first invested in Avail Finance back in 2019 and presently owns 9% stake in it.</li><li>Ola believes that the acquisition could help the company further enhance their own financial services offering.</li></ul>Ride hailing giant Ola on Friday announced that it has entered an agreement to acquire online lending platform Avail Finance, which is run by Ola’s founder and chief executive (CEO) <keyword id="1543567" type="General" weightage="20" keywordseo="bhavish-aggarwal" source="Orion">Bhavish Aggarwal</keyword>’s brother Ankush Aggarwal. The companies did not disclose the terms of the deal as the transaction is still awaiting approval from shareholders. However, a report by Moneycontrol citing sources <a href="https://www.moneycontrol.com/news/business/startup/ola-to-buy-founder-bhavish-aggarwal-brothers-firm-avail-finance-for-50-million-8272701.html">mentioned</a> that Ola may acquire Avail Finance for $50 million in a share swap deal. Notably, Ola had first invested in Avail Finance back in 2019 and presently owns 9% stake in it. Avail Finance was founded in 2016 by Ankush Aggarwal and Tushar Mehndiratta as a financial services and lending platform for blue-collar workers. The company offers savings, insurance, lending and investment solutions under one umbrella. It has over 6 million users. The company — which has both Ankush and Bhavish Agggarwal as directors — has raised $38.5 million since its inception from investors like Flipkart’s Binny Bansal. CRED’s Kunal Shah, Matrix Partners India and Ola co-founder Ankit Bhati too. Bhavish Aggarwal had also participated in the Series A round of the company in his personal capacity. Ola believes that the acquisition could help the company further enhance their own financial services offering for underserved segments, including their driver partner ecosystem. By leveraging Avail Finance’s products and capabilities, it wants to expand into a neobanking product, Ola said in a statement. The ride hailing giant invested ₹800 crore into its financial services business last year. The development comes as Ola is trying to go public in 2022. The company raised $500 million last year in the pre-initial public offering (IPO) round and has been aggressively expanding its electric mobility business on the side. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-consumer-products-axis-bank-mm-and-other-top-stocks-to-watch-out-on-march-25/slidelist/90432431.cms" style="">Tata Consumer Products, Axis Bank, M&amp;M and other top stocks to watch out on March 25</a> <a href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hike-the-third-time-this-week-in-india/articleshow/90433724.cms" data-type="tilCustomLink" style="">Petrol and diesel prices hiked for the third time this week in metro cities</a> <a href="https://www.businessinsider.in/science/news/nasa-to-develop-second-moon-lander-alongside-spacexs-starship/articleshow/90420511.cms" style="">NASA to develop second Moon lander, alongside SpaceX's Starship</a>

Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance

<keyword id="50691" type="General" weightage="20" keywordseo="digital" source="Orion">Digital</keyword> communications solutions provider <keyword id="6354287" type="General" weightage="20" keywordseo="Bharti-Airtel" source="Orion">Bharti Airtel</keyword> on Friday said it has paid ₹8,815 crore towards part prepayment of deferred liabilities pertaining to spectrum acquired in auction of year 2015. Accordingly, the payment was made to the <keyword id="62528" type="General" weightage="20" keywordseo="Department-of-Telecom" source="Orion">Department of Telecom</keyword>, Government of <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>. "The prepayment is for installments due in FY 2027 and FY 2028," the company said in a statement. "Over the last four months, <keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword> has cleared ₹24,334 crores of its deferred spectrum liabilities much ahead of scheduled maturities." As per the statement, these liabilities carried an interest rate of 10 per cent and have been paid off through a combination of strong free cash generated by business, equity proceeds and significantly lower cost debt of similar tenor. "Airtel continues to focus on financial flexibility via its capital structure, including optimising cost of financing and capitalising on all opportunities of significant interest saves like this prepayment." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hike-the-third-time-this-week-in-india/articleshow/90433724.cms">Petrol and diesel prices hiked for the third time this week</a>

Airtel prepays ₹8,815 crore to clear deferred liabilities for spectrum

<keyword id="128682" type="General" weightage="100" keywordseo="netflix" source="Orion">Netflix</keyword> has acquired Boss Fight Entertainment, a mobile game studio based in Texas. Boss Fight was formed by former Zynga Dallas and Ensemble Studios employees in 2013. It's headed by CEO <keyword id="13462248" type="General" weightage="20" keywordseo="david-rippy" source="Orion">David Rippy</keyword> alongside CCO Bill Jackson and <keyword id="13462249" type="General" weightage="20" keywordseo="coo-scott-winsett" source="Orion">COO Scott Winsett</keyword>. "This studio's extensive experience building hit games across genres will help accelerate our ability to provide Netflix members with great games wherever they want to play them," Amir Rahimi, Netflix's VP of game studios said in a statement. Boss Fight will continue to operate out of its current studios in Allen, Texas, Austin and Seattle. Netflix recently announced the acquisition of Finland-based <keyword id="13290907" type="General" weightage="50" keywordseo="next-games" source="Orion">Next Games</keyword>, developer of hugely popular Stranger Things. Next Games' strategy is to develop games based on popular entertainment IP, such as Stranger Things: Puzzle Tales, a story-driven puzzle role playing game (RPG) inspired by one of Netflix's most watched series. Founded in 2013 and led by <keyword id="4226958" type="General" weightage="20" keywordseo="teemu-huuhtanen" source="Orion">Teemu Huuhtanen</keyword>, Next Games creates and operates engaging mobile games with global appeal and an authentic and social fan experience at its core. The transaction is expected to close in the second quarter of 2022. Netflix, which has 222 million paid memberships in over 190 countries, in September last year announced the acquisition of video game creator Night School Studio, marking the first purchase of a gaming studio for the streaming giant, for an undisclosed sum. The company also rolled out five mobile gaming titles in select European markets. After rolling out its new gaming service to all subscribers on Android, video-streaming giant Netflix has also allowed the service for iPhone and iPad users as well. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hike-the-third-time-this-week-in-india/articleshow/90433724.cms">Petrol and diesel prices hiked for the third time this week in metro cities</a>

Netflix acquires Boss Fight Entertainment, its third game studio to boost gaming business

<keyword id="12134706" type="General" weightage="20" keywordseo="boddess" source="Orion">Boddess</keyword>, the omni channel tech beauty platform, held a grand celebration in honour of the opening of its first flagship store in the country and the launch of its integrated O2O beauty and digital platform. The event was attended by its brand ambassador, <keyword id="2069863" type="General" weightage="20" keywordseo="bhumi-pednekar" source="Orion">Bhumi Pednekar</keyword>, on the evening of Tuesday, March 22 at Ambience Mall, Gurgaon. Showcasing the brand new Digital and Beauty Tech store the public was invited to join in and celebrate the occasion. Pednekar stated, "I am extremely proud to be associated with a brand like Boddess which has such a futuristic vision. Being a part of the journey and watching the brand grow at such a fast pace has been very gratifying. Boddess has reinvented the way we think and experience beauty. Power-packed with best in class brands and unique features, the flagship store is a beauty haven that provides consumers a seamless Omni channel experience." Actress &amp; Boddess Brand Ambassador, Bhumi Pednekar Ritika Sharma, Founder &amp; CEO, Boddess (House of Beauty) adds, "We're excited to open doors to the city's discerning beauty consumers for an enriching technology-enabled beauty retail experience. My vision has been to bring to Indian consumers' global standards of Omni channel experience and to democratise beauty through the introduction of exclusive international brands. The response from our consumers has been extremely encouraging. We have bullish expansion plans and intend to extend our retail footprint across metros, tier II &amp; tier III by end of the upcoming financial year." Ritika Sharma, Founder &amp; CEO, BODDESS with Actress &amp; Boddess Brand Ambassador, Bhumi Pednekar The city's beauty enthusiasts, opinion leaders, and experts gathered to celebrate and savour the future of beauty retail. The divas were spotted enjoying an exciting shopping experience and scouting the various differentiators such as exclusive brand offerings, stellar service bars, consultation from beauty advisors, digital skin analysers, make-up try on, and much more. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms" data-type="tilCustomLink">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance</a> <a href="https://www.businessinsider.in/stock-market/news/tata-consumer-products-axis-bank-mm-and-other-top-stocks-to-watch-out-on-march-25/slidelist/90432431.cms">Tata Consumer Products, Axis Bank, M&amp;M and other top stocks to watch out on March 25</a> <a href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hike-the-third-time-this-week-in-india/articleshow/90433724.cms">Petrol and diesel prices hiked for the third time this week in metro cities</a>

Bhumi Pednekar launches beauty platform Boddess's first flagship store

Shares of <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited have outperformed the broader market benchmark indices over the past one month. During the said period, the shares of the company rose nearly 14 per cent against a rise of little over 2 per cent in the benchmark Sensex index. The rally in share prices for the Indian company comes amidst volatility in the global financial markets amid geopolitical war and skyrocketing crude oil prices.Rising gas and fuel prices are expected to bore well for the Indian oil-to-chemical company. Coming to its earnings, it had posted a 41.5 per cent rise in net profit during the Q3FY22 quarter, helped by an uptick in refining and retail businesses, according to reports. Also, an upward revision in prepaid tariffs by domestic telecom majors is expected Ato raise average revenue per user (ARPU) of the telecom operators. In November 2021, Reliance along with Vodafone Idea and Bharti Airtel raised their prepaid tariffs by around 20 per cent each, respectively. Earlier this month, Nasdaq-listed integrated manufacturing solutions company Sanmina Corporation and Reliance Strategic Business Ventures, a wholly-owned subsidiary of Reliance Industries, have entered into an agreement to create a joint venture through an investment in Sanmina's existing Indian entity named Sanmina SCI India in order to create a world-class electronic manufacturing hub in India, in line with the country's 'Make in India' vision. At 2.01 p.m., shares of Reliance Industries traded at Rs 2,598.00, up 0.8 per cent from the previous session. Global investment banking firm Morgan Stanley has set a share price target for the company at Rs 2,926, with an "overweight" rating. "Multiple positive triggers are lining up for RIL to outperform. Interestingly, these triggers are in areas where investors have been most skeptical about new energy with battery incentive wins, refining margin pickup and asset monetisation for petcoke gasifiers," it said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms" style="">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance</a> <a href="https://www.businessinsider.in/stock-market/news/tata-consumer-products-axis-bank-mm-and-other-top-stocks-to-watch-out-on-march-25/slidelist/90432431.cms" style="">Tata Consumer Products, Axis Bank, M&amp;M and other top stocks to watch out on March 25</a> <a href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hike-the-third-time-this-week-in-india/articleshow/90433724.cms" style="">Petrol and diesel prices hiked for the third time this week in metro cities</a>

Reliance Industries outshines benchmark index, shares rise 14% in 1 month

<ul><li><keyword id="9593075" type="General" weightage="20" keywordseo="uable" source="Orion">Uable</keyword> had started off as an online life skill development platform for students aged 6-12 in 2020.</li><li>In its current form, Uable is a mix of LinkedIn, Instagram, Snapchat and Facebook, but only for teens.</li><li>Zee5 and Big FM’s former CEO Tarun Katial is also working on a similar offering that focuses on women.</li></ul>After spending nearly seven years building one of India’s biggest <a href="https://www.businessinsider.in/business/startups/news/vedantu-the-last-and-biggest-rival-of-byjus-has-finally-entered-the-unicorn-club/articleshow/86614637.cms">edtech companies, Vedantu</a>, Saurabh Saxena is now on a journey to take on <keyword id="6354632" type="General" weightage="20" keywordseo="social-media" source="Orion">social media</keyword> platforms like Instagram and Snapchat by building an offering exclusively for teens. His latest venture Uable had started off as an online life skill development platform for kids aged 6-12 in 2020. The company had also raised close to $5 million from marquee investors like 3one4 Capital, Inflection Point, Pine Labs’ Amrish Rau and others. Saxena claims that the other model was working just fine, both parents and students enjoyed their method of skill development in a creative manner. Saxena’s seven-year-old daughter was also a user of the platform. However, Uable decided to pivot its business model to focus on a much larger audience. This switch in model was one of the reasons why Chiratae Ventures had decided to back the company in the first place. The company decided to move on to become a social media platform for teens as there were no dependencies on convincing parents to buy the product for their kids or on salespeople to sell the product. “That [the previous model] becomes a very non-scalable or very different proposition that I didn’t want to do as a founder or a team member as well,” Saxena told Business Insider. Previously, Saxena has built two edtech ventures — chain of institutes Lakshya and edtech company <keyword id="2016957" type="General" weightage="20" keywordseo="vedantu" source="Orion">Vedantu</keyword>. Where does the social network come into play? Saxena explained that Uable is a mix of LinkedIn, Instagram, Snapchat and Facebook, but only for teens. The platform allows an open and free space to teens on the internet, without exposing them to harmful content that is currently available online. It also helps students explore academic, career and learning opportunities. “Teenage is a great age to build a social product for… They spend so much time on the Instagrams of the world, Snapchats of the worlds. What they end up consuming, I mean it’s okay, I won’t say everything is crap. But at the end of the day what I believe is that social platforms need to change and become more and more valuable,” he added. Saxena said, “The core value proposition for Uable is this is the place where a teenager comes, can explore a diverse set of interests right from gaming design, art and design, love and relationship, career, skills, exams. We have a club on exams also if you want any help, if you want to join any study group also. So you explore your interests, you make new friends… Teenagers are looking to make interest-based friends and expand their network. There are only two kinds of crowd allowed on the platform. First, the teens themselves. Second, verified businesses that serve this segment or have opportunities for them. It is the second set of users that offers monetisation opportunities for Uable. The company rewards teens in the form of virtual coins to use each feature on the platform — liking photographs, uploading content, interacting with others and more. These coins can then be used to avail discounts on the sellers and businesses listed on the platform. The company wants to expand these businesses available on the platform and grow its library of e-books, audiobooks and more such digital assets for platforms. Ensuring safety for children online Indian media executive and business professional Tarun Katial — who has previously led Zee5 and Big FM as founder chief executive — is also working on a similar offering called Eve World, but solely focusing on women. He started working on the platform in 2020 after his wife, media veteran Monisha Singh Katial, was <a href="https://www.businessinsider.in/business/startups/news/tarun-katial-is-launching-social-network-for-women-after-leading-bigfm-star-india-and-zee5/articleshow/88171342.cms">trolled on social media platforms.</a> While there is no such motivation for Saxena, he does believe that there is a need for such a platform where teens can brainstorm and grow their own social circles. The company is also ensuring safety of these teens on the platform by filtering out harmful, abusive and disturbing content on the platform. Teens can report any negative comments on the platform, the content would be taken down and users may be blocked too. Uable will also bar the use of certain words on the platform — both publicly and in private chats. The company has however ensured that it would not be reading out any of the private chats of these teens, respecting their privacy, but will enable some alerts for certain words to prevent bullying on the platform. According to United Nations Children's Fund (UNICEF), more than a<a href="https://www.unicef.org/protection/violence-against-children-online"> third of young people in 30 countries</a> are being cyber bullied and one in five children skip school because of it. Meanwhile, eight in 10 children in 25 countries report feeling in danger of sexual abuse or exploitation online. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/retail/news/asias-richest-man-mukesh-ambani-is-on-a-shopping-spree-for-private-fashion-labels/articleshow/90439055.cms">Here’s why Asia’s richest man Mukesh Ambani is on a shopping spree for private fashion labels</a> <a href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms" data-type="tilCustomLink">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance</a> <a href="https://www.businessinsider.in/india/news/petrol-and-diesel-prices-hike-the-third-time-this-week-in-india/articleshow/90433724.cms">Petrol and diesel prices hiked for the third time this week in metro cities</a>

How this former Vedantu cofounder is taking on Instagram and Snapchat to build social media for teens

<ul><li>RIL’s subsidiary <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has invested in over seven private labels and formed two private labels in the last two years.</li><li>It also sells 50 high-end international brands like Steve Madden, Jimmy choo and Armani in India.</li><li>According to a report by Forrester Research, India is home to 8.6 million luxury brands consumers.</li></ul><keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> Industries (RIL) Chairman <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, who has a net worth of over $95 billion, has been on a shopping spree for private fashion labels and brands for a year now. The strategy, which started off with selling international brands in India, has now evolved into acquiring Indian brands and scale them further. RIL’s subsidiary Reliance Retail has invested in over seven private labels and formed at least two private labels in the last two years alone to strengthen the line of lifestyle brands under one umbrella. This is in addition to the 50 high-end international brands — like Steve Madden, Jimmy choo, SuperDry, Diesel, Gas, Armani, Burberry, Hugo Boss and others — that the company is selling in India under <keyword id="74639" type="General" weightage="20" keywordseo="reliance-brands" source="Orion">Reliance Brands</keyword> Limited (RBL) banner. RBL, which is a brand licensing arm, operates 680 stores and 916 shop-in-shop in India. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nature of the deal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Clovia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired 89% stake in lingerie brand company for ₹950 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Abraham &amp; Thakore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance bought an undisclosed majority stake in fashion label Abraham &amp; Thakore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rahul Mishra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail formed a 60:40 joint venture with fashion label Rahul Mishra. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amante </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired lingerie brand Amante from Sri Lanka-based MAS holdings. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zivame </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired lingerie brand Zivame last year for an undisclosed amount. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anamika Khanna </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail formed a 60:40 joint venture with fashion label Anamika Khanna. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ritu Kumar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired 52% stake in Ritu Kumar. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manish Malhotra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RBL acquired a 40% stake in Manish Malhotra’s luxury fashion label. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">John Player </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance bought John Players from ITC in 2019 for an undisclosed amount. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2019 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Raghavendra Rathore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">In 2018, Reliance bought 12.5% stake in the company set up by Raghavendra Rathore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Satya Paul </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired 16.3% stake in Satya Paul’s parent company for ₹34.8 crore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td></tr></tbody></table>Source: Reliance Retail's announcements Apart from the three lingerie brands, all the other brands that Reliance has invested in are luxury brands. What has compelled Reliance to go after owning Indian brands? “Reliance is utilising its current infrastructure and team under Reliance Retail to increase wallet share from customers by acquiring brands, which are well established. Their core business isn't centered around launching their own labels but managing retail (offline and online) for brands that they partner with,” Neha Khanna, director at management consultancy firm ValPro, told Business Insider. She further noted that the acquisition directly adds to their revenue without much associated operating expenditure. Madhur Singhal, managing partner and chief executive officer (CEO) of Praxis Global Alliance, explained that there are three main advantages to following such a strategy for any business. First, the new age consumers are more experimental and their purchasing behaviour has a huge impact on the development of new business strategies. Second, such a strategy is even more helpful when running an ecommerce business as the brand is able to meet the needs of a digital consumer who is willing to try new-age brands. Third, when a brand undertakes a ‘house of brands’ strategy, it is able to scale each of these brands to the extent, which they would have otherwise not achieved while growing individually. “If all small brands are consolidated under the house of brands then they get the right scaling economies to grow in terms of advertising, sales, etc. It also gives economies of scope as it increases the potential of cross-selling products and services,” he added. A report by Fortune India citing sources <a href="https://www.fortuneindia.com/enterprise/reliance-retail-acquisition-spree-aims-to-make-it-walmart-amazon/107308">noted</a> that Reliance Industries is trying to be a ‘Walmart Plus Amazon’ with its recent spree of acquisition across sub sections of the retail industries. According to a report by Forrester Research, India is home to 8.6 million luxury brands consumers. Reliance Retail’s rival Aditya Birla Fashion and Retail Limited (ABFRL) has been trying to go after this segment by acquiring stakes in brands like Sabyasachi, Tarun Tahiliani, Shantanu &amp; Nikhil, among others. According to market and consumer data site Statista, revenue in the Indian luxury goods market amounts to $6.6 billion in 2022. “Even in a pandemic, the shares of luxury brands such as LVMH and Hermes have doubled. This showcases how resilient the luxury can be and how spending continues in this segment. With rising disposable incomes and a well-travelled and younger customer demographic in India, Reliance and Aditya Birla understand the importance of making luxury brands more accessible,” Khanna said, adding that these brands are trying to tap into [the] Indian consumer’s spending capacity. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-outshines-benchmark-index-shares-rise-14-in-1-month/articleshow/90438954.cms" data-type="tilCustomLink" style="">Reliance Industries outshines benchmark index, shares rise 14% in 1 month</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms" style="">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail Finance</a> <a href="https://www.businessinsider.in/stock-market/news/tata-consumer-products-axis-bank-mm-and-other-top-stocks-to-watch-out-on-march-25/slidelist/90432431.cms" style="">Tata Consumer Products, Axis Bank, M&amp;M and other top stocks to watch out on March 25</a>

Here’s why Asia’s richest man Mukesh Ambani is on a shopping spree for private fashion labels

<keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, the co-founder of Flipkart sold his 5.5% stake in the company and left it in May 2019 after the ecommerce giant of India was acquired by Wallmart, the world’s largest retailer. Here are a few interesting facts about Sachin Bansal, the mastermind behind Flipkart. <ul><li>Sachin Bansal founded Flipkart in 2007 along with his partner <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>. In the initial stages, the ecommerce firm sold books online gradually expanding its operations into other domains. Today Flipkart has become one of the top ecommerce businesses in India. </li><li>In April 2016, Sachin Bansal was named among the 100 most influential people in the world along with Binny Bansal by the Times Magazine. </li><li>In some strategic deals, Flipkart acquired some well performing ecommerce businesses like Myntra, Jabong and PhonePe. </li><li>Sachin Bansal would later recollect in his life when Flipkart operated from a rented office costing them Rs.8,000 per month. He said the company during the starting years did not have any power backup they had to suffer the extremities of climate without AC or even windows to the building they had rented out for their ecommerce operations. </li><li>Sachin Bansal was a remarkable gamer. He used to give dinner to those who defeated him in games. </li><li>When the Big Billion Day sales was on, Sachin Bansal delivered the products along with Binny and others in the company.</li><li>Sachin Bansal and Binny Bansal are only business partners and co-founders of Flipkart. They are never related to each other though their surnames might suggest if they could be brothers. </li><li>Sachin and Binny studied at the same school. They were born and brought up in <keyword id="6360078" type="LOCATION" weightage="20" keywordseo="chandigarh">Chandigarh</keyword>, Punjab. Despite sharing their school with each other, they were never friends during their school days. Both of them graduated from IIT Delhi and only there at the college they got to know each other. </li><li>Sachin Bansal worked for Amazon in 2006. Binny Bansal joined the company in 2007. Later they came together to create Flipkart in 2007.</li><li>Sachin Bansal has married Priya Bansal, who was a dentist by profession. They both have a son.</li><li>Sachin Bansal is a highly sociable personality and loves gaming to the core. Sachin’s addiction to gaming was so intense that he wanted to give up his engineering course to find a career in gaming. During his early life, Sachin Bansal was highly passionate about playing games like Age of Empires and <keyword id="1269448" type="PERSON" weightage="20" keywordseo="Quake-III-Arena">Quake III Arena</keyword>.</li><li>Sachin Bansal is a visionary and a seasoned entrepreneur, the skill which he mastered through hard work. In 2018 after 11 years of his tenure with Flipkart, the company was valued at $20.8 billion. During this career at Flipkart, Sachin Bansal had the position of Chief Executive Officer and Executive chairman. </li><li>Sachin exited Flipkart along with the Walmart deal in 2018. During his exit, he had 5.5% stake in the company, which he sold to Walmart. During that time, his net worth was more than $1 billion.</li><li>During his exit from Flipkart, Sachin Bansal said he would focus on some personal projects that were long pending. He also said he wished to give himself to gaming and to brush up his coding skills.</li></ul>Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a>

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