The 55-year-old Primark brand, known for its affordably priced clothing and shoes, has been assessing the Indian market for several years and might collaborate with Reliance through a joint venture or licensing agreement, as per sources
Reliance: Primark has been a successful value-priced retailer and its global revenue has exploded in the last few years, aside from two Covid-hit years. Average prices are even cheaper than retailers such as H&M and Uniqlo. While China is the largest source country for Primark, India is second in the number of small to large factories that supply the company. Nearshoring is already embedded in Primark s supply chain strategy, and it can deliver goods from Indian suppliers directly to a local retail unit for cost control and flexibility while being responsive to local market needs.
Over the past year, Amul has undergone a transformative journey, evolving from a dairy-centric entity to a comprehensive foods company.
Since 2022, PepsiCo India, too, has embarked on extensive launches in the food category.
Not to be left behind, ITC, which has been introducing an average of 100 fast-moving consumer goods (FMCG) products across categories every year, has also launched a number of packaged food items.
Primark has been a successful value-priced retailer and its global revenue has exploded in the last few years, aside from two Covid-hit years. Average prices are even cheaper than retailers such as H&M and Uniqlo. While China is the largest source country for Primark, India is second in the number of small to large factories that supply the company. Nearshoring is already embedded in Primark s supply chain strategy, and it can deliver goods from Indian suppliers directly to a local retail unit for cost control and flexibility while being responsive to local market needs.