Mukesh Ambani now betting big on Rs 820000 crore brand, aims to make a fortune by selling…

Mukesh Ambani is currently the richest man in India and Asia with a massive net worth of Rs 957936 crore. He is the chairperson of Reliance Industries which is the most valuable company in India with market cap of Rs 1977000 crore. Mukesh Ambani is involved in a wide range of business through subsidiaries of Reliance Industries and he is reportedly betting big on a Rs 820000 crore brand that is spearheaded by Isha Ambani. According to the reports, Mukesh Ambani is planning to expand Isha Ambani-led Reliance Retail which is currently valued over Rs 820000 crore. India’s richest man is aiming to make a fortune by venturing into TVs, ACs and other electrical appliances market soon. The company recently soft launched a new indigenous brand named Wyzr that made its debut with air coolers on Flipkart. Now, Mukesh Ambani is gearing up to sell other electric appliances through the new sub-brand.

Mukesh Ambani aims to disrupt the market of products including air conditioner, washing machine, refrigerator, television, small appliances and LED bulbs through Wyzr. According to the reports, Reliance Retail aims to design and develop these products internally and distribute the products through Reliance Digital Stores, regional retail chains, independent dealers and e-commerce platforms such as Amazon and Flipkart. The products from Wyzr are expected to be priced lower than established brands such as LG, Samsung, and Whirlpool.

Reliance is reportedly in talks with local firms Dixon Technologies and Mirc Electronics, parent company of Onida, to manufacture other electronic appliances for the brand locally. Reports suggest that Reliance aims to set up its own manufacturing plant after the brand achieved a significant market share.