Reliance Industries may buy furniture brands Urban Ladder and Milk Baskets in the coming days (RIL may buy Urban Ladder and Milkbasket). Right now the company is in talks on this. It is believed that the company wants to strengthen its e-commerce platform. This has come to light in the era when the company is trying to buy ePharmacy startup Netmeds and Lonji retailer Zivami. Let us know that the company has bought Future Retail some time ago.
According to 4 people involved in the matter, negotiations with Urban Ladder have been going on for the last few months, which have now reached the advanced stage. However, he also said that the deal has not been finalized yet and it is under discussion. It is believed that this deal with Urban Ladder can be done for about $ 30 million or about Rs 225 crore.
Milkbasket is taking its margins very low, as milk is a very important thing. Companies are currently distributing milk as well as other products to increase their profit per order. However, when our partner Times of India tried to talk with MilkBasket or Urban Ladder, the company refused to comment.
However, when Reuters approached Reliance, Urban Ladder, and Milkbasket to gather more information related to this issue, there was no response from them. In fact, due to the COVID-19 epidemic, many Indians are looking for the convenience of ordering goods online at home instead of going out of the house. Even now the demand for home delivery of grocery items has increased.