Reliance retail makes a strategic move again, acquires Shri Kannan Departmental Store
The Silicon Review
27 March, 2020
Strategic acquisitions are the most important means of growth for any business, and it is one of the biggest decisions a business owners would make. After all, the future of their company rides on this one decision.
An acquisition strategy is a comprehensive plan which outlines an approach that leaders follow to manage risks and meet defined objectives within a program. The strategy is designed to guide how a program is executed over its entire lifespan. With this said, the leader of India’s retail industry, Reliance group has made another strategic move towards the company’s development.
Reliance Retail Ventures Limited has acquired Indian retailer Shri Kannan Departmental Store for Rs 152 Crore. “The investment will further strengthen the group’s retail operations and presence in the state of Tamil Nadu and will further enable retail and new commerce initiatives,” said a spokesperson for Reliance.
With this strategic move, Reliance Retail has started a “new commerce” plan which links producers, traders, small merchants and customers through digital innovation.
Incorporated in 1999, Shri Kannan Departmental Store operates 29 stores across Coimbatore and nearby areas with a retail area of more than 600,000sqft.
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