Mukesh Ambani-owned Reliance Retail's coup: Bring old clothes and...Raymond, Van Heusen, Louis Philippe...

After taking the telecom sector by storm by launching cheap services through Reliance Jio, the Mukesh Ambani-owned Reliance Group appears to have come out with similar steps in the retail sector. What Reliance Retail has offered is nothing short of a coup or an unbelievable thing. The Mukesh Ambani-owned retail outlet has announced that customers can bring their old or non-branded garments like denim, shirts, t-shirts, or kidswear and get instant exchange coupons ranging from Rs 100 to Rs 400, depending on the garment type. The "Fashion Factory Exchange Festival" has been offered across all of the Reliance Retail discount clothing outlets. These coupons can be used to purchase branded apparel from popular labels such as Lee, Raymond, Van Heusen, Louis Philippe, and others. The offer is available at all Reliance 'Fashion Factory' stores till July 20. 

Mukesh Ambani announces investment

Established in 2006, Reliance Retail is the largest retailer in India in terms of revenue. It was a memorable day for Reliance Industries Ltd (RIL) when Chairman Mukesh Ambani announced an investment of up to Rs 25,000 crore or $5.52 billion for the new venture at Reliance's 32nd Annual General Meeting in June 2006. Reliance Fresh was the first to be rolled out as convenience stores in Hyderabad in November 2006. 

Reliance Trends, Reliance Digital, Reliance Mart launched

Consumer electronics outlet Reliance Digital, hypermarkets Reliance Mart, apparel stores Reliance Trends, jewellery outfit Reliance Jewels, and footwear outfit Reliance Footprint were launched in 2007. It signed a 51:49 joint venture deal with Marks & Spencer in 2008 to open a chain of stores. Reliance Retail launched its wholesale cash and carry chain called Reliance Market in 2011. The Mukesh Ambani-owned retail company has more than 245,000 employees at 18,000 store locations in 7,000 towns.