Good news for Mukesh Ambani as Reliance’s FMCG arm beats Tata Group firm to become India’s…

Mukesh Ambani, India’s richest man, has achieved yet another milestone as Reliance Industries’ FMCG arm has surged to become the eighth-largest in India within just two years. The fast-moving consumer goods (FMCG) company, Reliance Consumer, of the Indian billionaire has overtaken big players such as Marico and Tata Consumer Products’ India operations, ET reported. Reliance Consumer Brands has also become the fastest-growing FMCG company in the country, as per the fourth quarter data. This expansion led to year-on-year sales growing by 3.5x during the quarter. In the second year of operations (FY 25), Reliance Consumer saw overall sales of Rs 11,450 crore.

The Ambani-led company’s brands include Campa, Spinners, Velvette and more. Its beverage brand Campa also gained double-digit market share in key markets. The conglomerate’s FMCG division comes under Reliance Retail, which is headed by Mukesh Ambani’s daughter Isha Ambani. The company is now targeting a reach of five to six million stores in the next three years.

Currently, Reliance Industries has a market cap of Rs 18.95 lakh crore. Shares of the firm closed at Rs 1,398.90 on Tuesday with a 2.20 per cent gain. The stock has surged after its fourth quarter results. The stock emerged as the biggest gainer among the Sensex firms. Shares of RIL on Monday jumped over 5 per cent.

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Mukesh Ambani has now joined the race to acquire a stake in the Indian unit of Haier, a Chinese consumer electronics giant, which sells products such as air conditioners, refrigerators, washing machines, televisions and water heaters. The company has been operating in India since 2003. Haier is reportedly looking to sell up to 51 per cent of its India business to bring in an Indian partner. The company is reportedly seeking to localise its consumer electronics and appliance manufacturing business by roping in a homegrown strategic partner.