5 biggest businesses of Mukesh Ambani which failed, they failed because..., they are now...
Mukesh Ambani- File image
Failures of Mukesh Ambani's Reliance Industries: Mukesh Ambani is the richest man of India. Being the chairman and managing director of Reliance Industries, the largest company of India with a market cap of Rs 1,930,339 crore, Mukesh Ambani has many successful businesses under his belt. From Reliance Jio to Campa Cola to Reliance Retail, Mukesh Ambani has seen several businesses which have turned around his entrepreneur life and made him one of the most successful businessman of India. However, it was not every time that Mukesh Ambani's businesses succeeded. There are some businesses of Mukesh Ambani which are considered 'failed'. Here are all the details you need to know about those 'failed' businesses of Mukesh Ambani.
Reliance Fresh failure: One of the most popular businesses of Mukesh Ambani's Reliance Industries which reportedly failed is Reliance Fresh. The story of Reliance Fresh started in 2006 when Reliance Retail started its first Reliance Fresh store. As per the website of Reliance Fresh, Reliance Retail operates over 2,700 grocery stores and sells over 200 metric tonnes of Fruits and over 300 metric tonnes of Vegetables every day. However, reports say that it is one of the failed ventured of the Reliance group.
Krishna-Godavari (KG) basin block failure: One of the significant failures of Mukesh Ambani's Reliance Industries was the significant setbacks it had faced in its KG-D6 block operations in the Krishna-Godavari (KG) basin. The production decline and disputes over gas extraction led to several business headaches of Reliance, after which it sold the assets to Brookfield for an enterprise valuation of Rs 13,000 crore.
Reliance Timeout: Launched in 2008, Reliance Timeout was a retail chain that sold books, music CDs, toys, and stationery. Although the business earned a massive Rs. 1,234 crore in sales, it suffered a loss of Rs. 11.35 crore, due to which it was shut down by 2012.
Last but not least, one more business of Reliance Industries which failed to get success was Reliance Health Insurance. Started in 2018 but and shut down by 2020, the business failed due to rising competition and financial pressure.
Other than these businesses, Reliance Gas and Reliance Trends have also been some of the biggest failures of Reliance Industries.
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