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This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
With people placed a greater focus on being fit and healthy, the demand for athletic shoes has grown.
The F series of devices, which is being launched in India first, will make its debut during Flipkart's Big Billion Days (BBD) sale and help Samsung cash in on the festive demand. The dates of BBD sale are yet to be announced.
KKR, which announced its biggest investment in Asia with a $1.5 billion stake buy in Jio Platforms in May, said it was deepening its relationship with Reliance.
As a result of the partnership, a wide selection of products ranging across womenswear, menswear and accessories will be available to million customers on Flipkart.
Earlier, the company sold its products in India through third-party vendors and e-commerce firms such as Amazon.com Inc and Walmart Inc-owned Flipkart.
BestDoc is an Intelligent Patient Relationship Management (PRM) system for hospitals and other healthcare providers in the country.
The sources said the preparations and discussions have been largely internal for now, but the company is preparing to tap external advisers on the process soon.
E-commerce companies see a large chunk of their business coming in during the festive sales and they make significant investments ahead of time to ramp up their capacity to be able to handle the spike in orders.
Through the deal, Reliance will acquire Future Retail that owns the Big Bazaar that sells everything from groceries to cosmetics and apparel, and Future Lifestyle Fashions Ltd that operates fashion discount chain Brand Factory.