Not only the country but also the daughter of Asia’s richest businessman Mukesh Ambani has grown up in an Israeli company. Isha Ambani and the Israeli company have 50-50 percent stake in this deal. This means that under this deal both of them have created a joint venture. Incidentally, Isha is the head of Reliance’s retail business. Whose revenue had crossed Rs 3 lakh crore in the last financial year. Which is highest among listed and unlisted retail companies. In such a situation, a joint venture with an Israeli company can further increase the company’s business and revenue. Let us also tell you for which business Isha Ambani’s Reliance Retail has formed a joint venture with the Israeli company.
The partnership will be 50:50
Reliance Retail on Tuesday announced the formation of a joint venture with Israel-based private label and branded underwear manufacturing company Delta Galil Industries. Reliance Retail hopes that this partnership will strengthen its position in the apparel market. A joint statement said that both will have a 50:50 per cent stake in this partnership with Delta Galil, which manufactures apparel for women, men and children. Under this partnership, Delta Galil will design and manufacture products for the Reliance brand.
This is joint venture planning.
The joint venture will also launch Delta Family Lifestyle stores and Athena brand for men’s and women’s innerwear in the next 18 months. The company said Delta Galil, known for its innovation and product excellence, will leverage this venture to expand its presence in the fast-growing Indian market. Reliance Retail Managing Director V Subramaniam said, “Together we are set to enhance the offering for consumers on our retail platform.” Isaac Dabah, Chief Executive Officer (CEO) of Delta Galil, said the joint venture will help Reliance Retail leverage Delta Galil’s deep industry expertise and innovation capabilities in intimate apparel and activewear.
