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Reliance forms textiles JV with China’s Shandong Ruyi

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10 years ago

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Mumbai: Reliance Industries (RIL) Tuesday said it has signed a joint venture agreement with Chinese textile firm Shandong Ruyi Science and Technology Group (Ruyi) towards repositioning its textile business and expanding globally.

RIL will hold 51 percent in the JV while the remaining will be held by Ruyi, Reliance said in a statement. As per the definitive agreements, RIL will transfer its existing textile business into the newly incorporated JV for which it will receive cash payment.

The JV will build on the company’s existing textile business and wide distribution network in India as well as Ruyi’s state-of-the-art technology and its global reach.

“The JV will benefit from the strength of ‘Vimal’ and ‘Georgia Gullini’ brands and plans to introduce some of the well known global brands,” RIL said in a statement here.

The Ruyi Group operates in India under the ‘Georgia Gullini’ brand in the worsted suiting segment.

Commenting on the deal, RIL executive director Nikhil R. Meswani said: “Our joint venture with Ruyi Group will help Reliance reposition its textile business on a high growth path. Our partner’s deep commitment and global reach in textile business will enable the JV to harness the growth potential of the Indian market and emerge as a global textile player.”

Shandong Ruyi has a presence in America, Europe, Japan, Australia, New Zealand and China. It has partnerships with global players such as Itochu, Japan, and owns or operates a plethora of world renowned brands like Taylor & Lodge, Harris Tweed, Nogara and Aquascutum.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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