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@ EconomicTimes

Reliance Industries Ltd goes on acquisitions spree

Under Asia's richest man, Mukesh Ambani, Reliance Industries is pivoting from an oil-led conglomerate into a more consumer-facing company, selling everything from handbags to broadband to try to tap into Indians' rising disposable incomes. Reliance Brands already runs high-end stores in India with some 40 foreign partners, including British label Burberry , shoemaker Steve Madden and New York-based Iconix Brand Group Inc, through joint ventures and franchises. It also wrapped up its first international acquisition in May, buying Hamleys, the world's oldest toy retailer, for $88.5 million. Company is targeting multi-brand sports, wellness and fitness, men's beauty products.

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