On January 31, 2023, Reliance Retail announced that its FMCG division has entered into a strategic partnership with Maliban, a Sri Lanka-based biscuit brand.
According to a statement, the partnership will help Reliance Consumer Products Limited (RCPL) strengthen its portfolio in the biscuit segment by creating unique value propositions.
Maliban is a well-known heritage and household brand in Sri Lanka, known for producing biscuits, crackers, cookies, and wafers, and has a presence in over 35 countries across 5 continents.
Reliance Retail’s FMCG division, Reliance Consumer Products Limited (RCPL), launched its packaged consumer products brand “Independence” in December 2022. The company is also building a separate and dedicated retail distribution network for its rapidly growing FMCG portfolio.
Isha Ambani, Executive Director, Reliance Retail Ventures Limited, said, “With a leading market position, Maliban has deep-rooted heritage and credibility. With this strategic partnership between RCPL and Maliban, we will not only be strengthening our FMCG portfolio through a great brand but will also be able to offer an excellent value proposition through quality products to our Indian consumers.”
Kumudika Fernando, Group Managing Director, Maliban, said, “The complementary strengths of our two organisations will enable us to bring the unique and highly sought-after tastes of Maliban to India’s discerning consumers.”
Meanwhile, Reliance Retail has clocked 17% YoY growth in operations revenue at INR 67634 Cr in the Q3 that ended December 2022. Consolidated revenue for Reliance Retail is at INR 57717 Cr for the same period.
