Mukesh Ambani's ₹10 power play: From Campa Cola to ice cream, why Reliance is betting big on India’s middle class

Mukesh Ambani is making another bet on India's middle-class consumers, this time with ice cream priced at just ₹10. Reliance Consumer Products has entered the crowded ice cream market with Bombay Creamery, using a low starting price to attract consumers and build a mass-market brand.

The brand will initially be available across western India before a planned nationwide rollout, putting Reliance up against established players such as Amul, Mother Dairy, Vadilal and Kwality Wall's.

The ₹10 price is significant because Reliance is not entering the category at the premium end. It is starting where millions of consumers make everyday, small-value purchases.

 

 

 

 

 

 

And this is not the first time Ambani has used affordability as a way to enter a crowded consumer market.

Campa Cola was the first big test

Reliance's revival of Campa Cola offers the clearest example of this strategy.

When the company brought back the Indian soft-drink brand, it entered a market dominated by Coca-Cola and PepsiCo with a ₹10 price point for a 200 ml bottle.

Don't Miss: Reliance enters ice cream market with Bombay Creamery, prices start at Rs 10

The strategy helped Campa gain ground in the carbonated soft-drinks market.

Reliance said Campa generated more than ₹4,700 crore in gross sales in FY26 and became India's fourth-largest carbonated soft-drinks brand, with double-digit market share in key markets, according to a report by The Economic Times. 

 

 

(Picture Credit : Campa)

 

The lesson for Reliance was not simply that consumers like cheaper products.

A low entry price can encourage consumers to try an unfamiliar brand. Once the product gains visibility, a large distribution network can help take it to more consumers.

Bombay Creamery is now getting a similar test.

From cola to everyday household products

Reliance's consumer push did not stop with beverages.

The company launched the Independence FMCG brand in Gujarat in December 2022, selling everyday products including packaged drinking water, edible oils, pulses, grains, packaged foods and other household essentials.

Independence has since become a sizeable part of Reliance's consumer business. The company said the brand generated around ₹2,600 crore in sales in FY26.

Reliance has also expanded its presence in packaged water through Campa Sure. The company said its water business has now made RCPL India's third-largest branded water player.

The broader strategy is becoming clearer.

Reliance is building a portfolio of products that can become part of the everyday spending of Indian households, rather than relying on a single consumer category.

Campa Cola puts the company in the soft-drink market. Independence gives it a presence in household essentials. Packaged water adds another frequently purchased product.

Now, ice cream is the next bet.

From ₹750 luxury scoops to ₹10 mass-market ice cream

There is another Ambani ice cream story, but it sits at the opposite end of the market.

Earlier this year, Anant Ambani's Vantara Creamery entered Mumbai's premium dessert market with ice cream priced at around ₹750 per scoop, plus taxes.

The brand launched with 17 artisanal flavours, including Malai Kulfi, Guava Chilli, Filter Coffee, Lemon Sorbet and Kesar Peda. Reports said the ice cream was made using A2 Gir cow milk and positioned as a luxury offering.

 

 

 

 

 

 

Some premium combinations were reported to cost close to ₹1,000, putting the venture firmly in the luxury dessert space.

The contrast is striking.

On one side is Vantara Creamery, where a single scoop can cost ₹750. On the other is Bombay Creamery, where an ice cream starts at ₹10.

The two are separate ventures and serve very different purposes. Vantara Creamery is linked to Anant Ambani's Vantara initiative, while Bombay Creamery is the ice cream brand launched by Reliance Consumer Products.

But the contrast makes one thing clear about the Ambani family's presence in the category: ice cream is being explored at both the luxury and mass-market ends.

For Mukesh Ambani's Reliance, however, the bigger opportunity is clearly the scale of India's everyday consumer market.

Why ₹10 matters in ice cream

Ice cream is already a highly competitive market.

Amul, Mother Dairy, Vadilal, Kwality Wall's and Arun have established brands and distribution networks. At the other end of the market, newer companies have also tried to attract consumers with premium, health-focused and indulgent products.

Reliance is choosing a different entry point.

Bombay Creamery will sell cones, cups, tubs, bars and sticks, with prices starting at ₹10. The company is positioning the brand around affordable products made with real dairy cream.

For consumers, the low price could make the product an easy impulse purchase.

Someone who may think twice before spending ₹20 or ₹30 on an unfamiliar ice cream may be more willing to try one priced at ₹10.

That makes the starting price particularly important for a new brand trying to build awareness.

But Reliance will need more than a cheap product to make the strategy work.

Must Read: ₹750 for an icecream scoop! Anant Ambani's Vantara enters the market in style

Independence took the strategy beyond beverages

Campa Cola was not a one-off bet.

Reliance had already started building its mass-market consumer business across everyday products with its Independence brand, which includes packaged drinking water along with staples and other household essentials.

Its packaged-water push has also gained scale. Independence Water, along with Campa Sure, helped Reliance Consumer Products become India's third-largest branded packaged-water player by March 2026, according to the company.

The message is becoming clearer: Reliance is targeting products that consumers buy frequently and keeping affordability at the centre of the pitch. Bombay Creamery now brings the same approach to ice cream, with prices starting at just ₹10.

Established players have reason to watch

Reliance's entry has already put pressure on investor sentiment around established ice cream companies.

Kwality Wall's shares fell as much as 3% on Wednesday after Reliance announced the launch. The stock was already on a seven-session losing streak and had fallen around 11% over that period.

The market reaction does not mean Reliance will immediately take significant share from existing players.

Ice cream is a category where taste, product quality, availability and repeat purchases are crucial. A consumer may try a ₹10 product because it is cheap, but price alone will not guarantee that they buy it again.

For established companies, however, Reliance's entry brings a competitor with significant financial resources and a large distribution network.

Ambani's bigger bet is the mass-market consumer

Bombay Creamery comes at a time when Reliance's consumer business is expanding rapidly.

RCPL generated around ₹22,000 crore in gross revenue in FY26, roughly twice the previous year's level, according to Reliance. Campa contributed more than ₹4,700 crore in gross sales, while Independence generated around ₹2,600 crore.

The numbers show why Reliance is pushing deeper into everyday consumption.