Reliance Retail said. With Urban Ladder set to sell its business, the sector would now largely be dominated by e-commerce marketplaces like Walmart-owned Flipkart and Amazon along with market leader Pepperfry. Urban Ladder, in particular, has had a rough ride in recent years. In August, Reliance Retail acquired a majority equity stake in online pharma firm Netmeds for around ₹620 crore. “This investment is aligned with our commitment to provide digital access for everyone in India," said Isha Ambani, director of Reliance Retail Ventures had said on the Netmeds stake buyout.

Source: Mint November 15, 2020 04:18 UTC