According to industry reports, Reliance Industries is currently in talks over a retail joint venture with Rajesh Exports, the Bangalore-based jeweller who took over the Oyzterbay retail chain last year. It is believed that Reliance will make a Rs 4,000 crore (US$988 million) investment, accounting for a majority of the amount. It is yet to be disclosed whether the JV will entail a new jewellery retail chain or whether the merchandise will continue to be retailed through Rajesh Exports’ existing outlets.
