Asia’s richest man, Mukesh Ambani is on a shopping spree in a race against Amazon.

The 63-year-old business tycoon is trying to widen his footprint in the retail market where the global giants like Amazon and other local businesses are trying to chase a billion customers.  In the early pandemic era, he had raised more than $20 billion, all by selling his stakes in the technology venture.

Now he has set his eyes on acquiring several local online retailers, to venture into the e-commerce platform and compete with the leaders there. It is said that the company is in various talks with retailers like Zivame, Urban Ladder, and Netmeds. But there is no certainty on cracking of deal with them.   

As per Pronam Chatterjee, the co-founder and the CEO of ‘BluePi Consulting’, reliance is in a position to acquire the retail market and this is the right time to do this. He also added that in the next five years there will be only one clear leader in the retail organization that will take up the pole position.