Reliance in talks with Best Buy for cash and carry join venture

Reliance Retail is in talks with US electronics durables retailer Best Buy for a cash-and-carry (wholesale) joint venture (JV) in India. When Reliance had launched its retail venture, it had said that cash-and-carry would be an important business area for Reliance Retail.The company has, however, not been able to rollout its wholesale stores yet. If talks with Best Buy materialise, the JV company would be engaged in durables wholesale trade.

Additional details of the possible JV could not be ascertained. When contacted a Reliance Retail spokesperson declined to comment.

A senior executive of Reliance Retail said, “The cash-and-carry (wholesale) model is in sync with the company’s policy to strengthen its B2B (business-to-business) model.” The B2B model emphasises sale of products in bulk to relatively smaller vendors.

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