The partnership will enable Reliance Consumer Products to access Maliban’s globally recognised product portfolio
Mumbai: Reliance Consumer Products Ltd. (RCPL), the FMCG arm and a wholly owned subsidiary of Reliance Retail Ventures Ltd. (RRVL), announced a strategic partnership with Sri Lanka-headquartered Maliban Biscuit Manufactories (Private) Ltd. (Maliban).
Maliban is a 70-year-old Sri Lankan biscuit manufacturer known for its range of products including biscuits, crackers, cookies, and wafers. The company exports its products to over 35 countries across five continents.
“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,” Isha Ambani, executive director, RRVL, said on the association.
“Being the custodian of several widely known global brands in India, Reliance is well-positioned to further expand the excellent consumer equity and reach that Maliban has built over 70 years,” she added.
RCPL’s vision is to offer a bouquet of domestic and globally recognised consumer brands to Indian consumers, the company said in a statement.
RCPL launched its packaged consumer products brand, ‘Independence’ in December 2022 and is creating a retail distribution network for its fast-expanding FMCG portfolio.
Speaking on the partnership with RCPL, 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. We look forward to collaborating with Reliance Consumer Products towards this shared objective to provide Indian consumers with world-class products”.
With this partnership, Reliance and Maliban will develop unique value propositions that will strengthen RCPL’s portfolio in the biscuit segment.
Reliance Retail Ventures Limited is a subsidiary of Reliance Industries Ltd and the holding company of all the retail businesses under the RIL group. RRVL, through its subsidiaries and affiliates, operates more than 16,500 own stores and partners with over 2 million merchants across Grocery, Electronics, Apparel, Pharmacy, lingerie, home and furnishing, beauty and personal care. It also operates the largest network of omni-channel businesses through Jio Mart, Ajio, Netmeds, Zivame and other online channels.
RRVL reported a consolidated turnover of ₹ 199,704 crore ($ 26.3 billion) and net profit of ₹ 7,055 crore ($ 931 million) for the year ended March 31, 2022.