Reliance to make e-commerce debut with JioMart: Report

Billionaire Mukesh Ambani's Reliance gears to take on E-commerce giants Amazon and Flipkart by launching a new venture 'JioMart' to cater to online shoppers in the suburban areas of Mumbai and Navi Mumbai, reported Livemint.

The Reliance Industries Ltd, on Monday, sent invites to Jio telecom users for registering on their new venture. “Yes, we have soft-launched our operations. All Jio users are sent invites to register to avail of preliminary discounts. Though it is currently only in three regions, we would be scaling it up further. The JioMart app will be launched soon," the official said on condition of anonymity," an official told Livemint.

According to the news report, the new e-commerce is Reliance Retail's offline-to-online initiative to link producers, small merchants and brands to consumers.

A company official told Livemint that RIL was currently looking a the consumption basket including daily staples, soaps and other household items. The Local Kirana stores have been invited to register on the platform.

Mukesh Ambani's Reliance Retail, which runs the country's largest chain of neighbourhood supermarket stores and consumer electronics outlets, was recently valued at USD 34 billion (Rs 2.4 lakh crore) in a proposed share-swap scheme for shareholders.