Reliance Retail inks JV with Office Depot for Rs 120 cr

Mukesh Ambani-led Reliance Retail has entered into a joint venture with Office Depot, a global provider of office products and services.

The JV marks Office Depot's entry into the country and is a business to business initiative that will focus on small, medium and large corporate customers.

With a view to accelerate the rollout of operations, the two companies have also announced the acquisition of eOfficePlanet, which already has corporate clients in the country.

"To provide a range of options for business customers, we have partnered with Office Depot. Both the partners would contribute in the ratio of 49:51 in the JV, which has been set up with an investment of Rs 120 crore," Reliance Retail Lifestyle President and CEO Bijou Kurien told PTI.

He said with the acquisition of eOfficePlanet, the JV will be able to support the B2B initiative and the companies do not plan to set up retail stores in India.

The joint venture will combine the global resources of Office Depot with the local market knowledge and resources of Reliance Retail Limited to establish a sophisticated supply chain network and enhance eOfficePlanet's merchandising and sourcing capabilities.

"The joint venture with Reliance and strategic acquisition of eOfficePlanet will put Office Depot in a leadership position in India," Office Depot's International Division President Charles Brown said.

He said the new relationship will provide Office Depot a platform to serve existing global customers, which have operations in India, and expand offering in the country.

EOfficePlanet offers a broad array of business consumables, including office stationery and supplies, office technology, printing solutions, corporate gifting and promotional products, break room, canteen, pantry and janitorial supplies across India's largest cities.