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Indian conglomerate is expanding into fashion and personal care.
June 20, 2022
By: TOM BRANNA
Editor
Indian conglomerate Reliance Industries is considering purchasing Revlon Inc. days after the global beauty company filed for bankruptcy, according to a report from ET Now. Reliance has pushed its way into the fashion and personal care space in recent months as it diversifies away from its mainstay oil business. It has already established a foothold in telecom and retail sectors. Revlon obviously is a good fit with Reliance Industries’ omnichannel plans for beauty & personal care. Mukesh Ambani, the sole chair and managing director at Reliance, was named as the tenth richest person in the world by Forbes in 2022. Reliant has sales of about $100 billion.
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