Reliance retail in talks with Li & Fung

12 Apr '06

1 min read

Mukesh Ambani is in talks with Hong Kong based retail giant Li & Fung for his proposed retail venture.

Reliance Retail looking for the partner having global competencies for sourcing requirement which will be very important as expansion plans.

Company is expected to come up in second half of the current fiscal 2006-07.

Reliance's sourcing deal with Li & Fung would cover soft goods like apparel, furnishing and household products.

Soft goods business is anticipated a huge turnover of about Rs 90,000 crore in four to five years of time span for Reliance Retail venture.

Li & Fung has diversified portfolio comprising shipping and property and also ranked as the world's largest export corporation.

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Reliance retail in talks with Li & Fung

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