Reliance Industries has acquired a 60 percent stake in the online pharmacy for Rs 620 crore. The deal values Netmeds at around Rs 1,000 crore.
The bouquet of JioMart products now includes a wide range of personal care products, home and kitchen care products, puja needs, shoe care, baby care products, branded foods etc
Some industry watchers equate Reliance's digital plans - which extend from online shopping and cloud computing to telecom and digital payments - to China's Alibaba and Tencent, companies Reliance itself calls 'global peers'.
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During the pilot project across Navi Mumbai, Thane, and Kalyan, Jiomart went live last month with a WhatsApp business account.
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JioMart is a blend of digital and neigbourhood physical retail that makes it easy for customers to place orders and encourages stores to get empanelled with Reliance Retail.
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JioMart is currently available in Kalyan, Thane and Navi Mumbai near Mumbai, and is expected to cater services to other parts of the country soon.
Launched in January, the web-only arm of Reliance Retail allows consumers to purchase from among 50,000 products including groceries and other essential items.
Millions of kirana stores are likely to become part of JioMart and reap benefits of scale and convenience for their customers. This will set an example of how, with clean practices, both physical and digital retail can co-exist and flourish.
This partnership has the potential to deliver significant results for India across multiple domains. Vision and ambition aside, both the companies need to realise each other’s strengths and core competencies to deliver on their promise.
JioMart will fulfil orders placed through WhatsApp or Facebook, payments can happen digitally through WhatsApp Pay, completing the digital journey for the consumer.