Reliance Industries AGM 2018: Mukesh Ambani to create hybrid online-to-offline retail platform
Mukesh Ambani, Chairman & Managing Director, Reliance Industries announced a slew of attractive offers in the telecom, broadband and retail space. At RIL's 41st Annual General Meeting, Ambani said Reliance Jio has doubled its subscriber base to 215 million in 22 months. RIL Chairman also announced that the company is launching JioGigaFiber, Jio's fixed line broadband.
Speaking about the retail platform, Amabani said RIL saw its biggest growth opportunity "in creating a hybrid, online-to-offline new commerce platform". The new commerce platform will be created through integration of its offline retail arm and online technology platform, he explained.
Mukesh Ambani, Chairman & Managing Director, Reliance Industries announced a slew of attractive offers in the telecom, broadband and retail space. At RIL's 41st Annual General Meeting, Ambani said Reliance Jio has doubled its subscriber base to 215 million in 22 months. RIL Chairman also announced that the company is launching JioGigaFiber, Jio's fixed line broadband.
Speaking about the retail platform, Amabani said RIL saw its biggest growth opportunity "in creating a hybrid, online-to-offline new commerce platform". The new commerce platform will be created through integration of its offline retail arm and online technology platform, he explained.
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Hybrid online-to-offline retail platform:
According to Ambani, the platform will bring together the 35 crore customer base of Reliance Retail stores, 21.5 crore Jio connectivity users and a targeted 5 crore Jio "GIGA-HOMES"; and the "3 crore small merchants and shop-keepers all over India who provide the last-mile physical market connectivity".
"Hence, we will integrate the physical and digital marketplaces in a uniquely collaborative Bharat-India Jodo enterprise," Ambani said.
"We see merchants and small shop owners as critical customer interaction and fulfilment points, who will share a mutually beneficial win-win relationship with us."
He elaborated that through the deployment of "merchant point of sale" for small shop owners, the company will enable them to do "everything that large enterprises and large ecommerce players are able to do".
Mukesh Ambani then invited Isha Ambani and Akash Ambani on stage. Akash added further details. He said, "Your home will have wall-to-wall Wi-Fi coverage, every appliance, plug point, switch will become smart. You can have cameras giving you 24x7 security monitoring, alerts." Isha Ambani, on her part, said, "Gone are the days of Mbps, now it will be about Gbps: Isha Ambani."
JioPhone Monsoon Hungama: Mukesh Ambani says buy JioPhone 2 priced at just Rs 501
Reliance Industries AGM: The company's chief, speaking at the meet made several big announcements and one of the biggest was the rollout of a new mass based plan. Ambani announced the launch of a 'JioPhone Monsoon Hungama'. Earlier, Ambani had revealed that 'JioPhone has taken the country by storm'. He said that Reliance has as many as 25 mn JioPhone users in India. He revealed that, "Now RIL will be taking JioPhone to next level with added functionalities."
Ambani then proceeded to make an announcement that would be music to the ears of the masses. He said, "Today, we are launching a brand new JioPhone scheme, JioPhone “Monsoon Hungama”. Under this offer, by exchanging your old feature phone, you can get a brand new JioPhone for an effective entry price of just Rs 501."
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JioPhone Monsoon offer: Starting July 21, you can exchange your old JioPhone on just Rs 501.
Isha Ambani at Reliance Industries AGM 2018: Gone are the days of Mbps, now it will be about Gbps
Mukesh Ambani: We will now extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions.
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Mukesh Ambani: Reliance Jio customer base doubled to 215 million in one year.
Reliance Industries share price: RIL stock is trading flat while Mukesh Ambani addresses shareholders at RIL's 41st AGM.
Source: BSE
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