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Indian-based Reliance Retail enters into a joint venture with Addverb, a bot manufacturer

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An Indian-based retailer company, Reliance Retail, has become a shareholder of 54% in an Indian robotics manufacturing firm, Addverb. Both the parties signed the deal with an amount of $132 million or Rs 983 crores. This joint venture will allow Reliance Retail to leverage its 5G and battery tech via advanced energy solutions provided by Addverb. Plus, Reliance Retail would be able to advance in material sciences like carbon fibre, helping the firm to enable fast and affordable robot delivery.

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ConsumerGeniuses

Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

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