Mukesh Ambani’s failed businesses, Reliance projects that faced major losses due to…, they are…

Mukesh Ambani’s Reliance Industries is one of India’s biggest and most successful companies. It has done very well in many areas, but not all of its ventures have been successful. Some projects had to be shut down because they did not do well in the market. For example, Reliance Timeout, which used to sell books, music, and stationery, could not attract enough customers and was closed. Another one, Reliance Trends, a clothing and fashion retail business, also faced losses. Even Reliance Health Insurance, which started in 2018, had to shut down after some time because it couldn’t grow as expected.

These ventures couldn’t survive in a tough market, and Reliance had to deal with significant losses as a result. Despite these failures, Reliance Industries continues to remain a strong company in many other sectors.

The Fall of Reliance Timeout and Reliance Trends

Reliance Timeout was a retail chain that sold books, music CDs, toys, and stationery. Launched in 2008, it shut down by 2012. The rise of online shopping and fewer walk-in customers made the business unsustainable.

Reliance Trends, the company’s fashion retail brand aimed at middle-income shoppers, also struggled. Despite earning Rs. 1,234 crore in sales, it suffered a loss of Rs. 11.35 crore. It couldn’t compete with big players like Big Bazaar and Max. It also failed to attract loyal middle-class customers. As a result, Reliance decided to wind up both businesses.

Reliance Health Insurance and Other Failures

Reliance Health Insurance started in 2018 but was shut down by 2020. Due to rising competition and financial pressure, it couldn’t survive. The insurance regulator ordered that all its customers and financial assets be moved to Reliance General Insurance.

Another failed venture was Reliance Gas, launched in 1998. It aimed to sell packaged LPG cylinders but failed to make a mark in the market.

Even Reliance Fresh, the company’s grocery chain, saw early losses. However, over time, it was revived under the larger Reliance Retail banner.

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