RIL news and archive

RIL partners China’s Ruyi for textile JV

Reliance Industries (RIL) and China-based Shandong Ruyi Science and Technology Group (Ruyi) have entered into a definitive agreement for setting up a joint venture (JV) in textiles. As per the agreements, RIL will transfer its existing textile business into a newly incorporated joint venture company, for which RIL will receive cash...

Apparel

‘Only Vimal’ and Reliance may no longer be together

Reliance Industries (RIL), India’s largest private sector company, has decided to sell its textiles business, including its iconic brand ‘Only Vimal’. The Mukesh Ambani-led company has hired N M Rothschild to manage the sale of the business. The textiles business, including a factory at Naroda near Ahmedabad, is expected to be sold by the...

Apparel

Mumbai Fashion Week date controversy

Will the hi-profile Mumbai Fashion Week scheduled to take place early next year get pushed to another venue or date because Union minister Vilasrao Deshmukh’s son is getting married at the same venue? Apparently, the minister has requested Mukesh Ambani to push forward the dates of Mumbai Fashion Week as son Riteish’s wedding is at the same...

Apparel

RIL leads the financial growth chart

Reliance Industries Limited (RIL) reported a 37 per cent increase in turnover to Rs 83,698 for its quarter ended 30th June, 2011. Its exports have increased by 57.5 per cent to Rs 51,737 crores. Its PBDIT increased by 9.3 per cent and achieved a record level of Rs 11,005 crores. Profit before tax increased by 20.3 per cent to Rs 7,264 crores....

Fashion

Marks & Spencer to reposition as a mid-market aspirational brand in India

Marks & Spencer to reposition as a mid-market aspirational brand in India UK’s leading retailer Marks & Spencer, which entered India through a joint venture with Reliance Industries, is all set to open more company-owned stores, and reposition itself as a mid-market aspirational brand. Recent news reports suggest the iconic British retailer is...