Reliance Retail, India’s premier retailer, has set an formidable goal to double its enterprise inside the subsequent three to 4 years, Director Isha Ambani introduced at Reliance Industries’ Annual Common Assembly (AGM).
Reliance Retail reported a gross income of Rs 3.06 lakh crore ($36.8 billion) for the monetary yr ending March 31, 2024, marking a 17.8 p.c development in comparison with the earlier yr.Isha Ambani expressed confidence in reaching the purpose, saying, “With the robust basis we’ve constructed, I’m assured that we’ll obtain our purpose of doubling our retail enterprise within the subsequent 3-4 years.”
In line with a PTI report, through the RIL AGM, Reliance Chairman Mukesh Ambani highlighted Reliance Retail’s international standing, rating among the many top-5 retailers worldwide by way of retailer depend and among the many top-10 in market capitalization.
The corporate additionally ranks among the many top-30 retailers globally by way of income. Mukesh Ambani additional revealed that Reliance Retail opened 1,840 new shops through the yr, bringing the whole retailer depend to 18,836, with a mixed retail area of 79 million sq. toes.
Additionally Learn | Reliance AGM 2024 Highlights: Mukesh Ambani announces RIL Board of Directors to meet for 1:1 bonus shares; big focus on AI
Moreover, the retail enterprise raised Rs 17,814 crore (USD 2.1 billion) at a valuation of USD 100 billion.
Isha Ambani emphasised Reliance Retail’s distinctive efficiency in varied segments, notably in grocery, the place the corporate has turn out to be the biggest and one of many fastest-growing retailers, increasing at a price 2.5 occasions sooner than the remainder of the fashionable commerce.
She attributed this development to the corporate’s concentrate on smaller cities, the place over two-thirds of their new shops are being established. In lots of of those markets, Reliance Retail is the primary trendy retailer to determine a presence.
Relating to Reliance Retail Client Manufacturers, Isha Ambani acknowledged that the enterprise is devoted to creating high-quality merchandise at inexpensive costs to drive elevated consumption throughout India.
The corporate has re-launched a number of standard manufacturers, together with Campa, Lotus Candies, and Sosyo. The preliminary success of those manufacturers has given Reliance Retail confidence in its strategic course.
Reliance Retail reported a gross income of Rs 3.06 lakh crore ($36.8 billion) for the monetary yr ending March 31, 2024, marking a 17.8 p.c development in comparison with the earlier yr.Isha Ambani expressed confidence in reaching the purpose, saying, “With the robust basis we’ve constructed, I’m assured that we’ll obtain our purpose of doubling our retail enterprise within the subsequent 3-4 years.”
In line with a PTI report, through the RIL AGM, Reliance Chairman Mukesh Ambani highlighted Reliance Retail’s international standing, rating among the many top-5 retailers worldwide by way of retailer depend and among the many top-10 in market capitalization.
The corporate additionally ranks among the many top-30 retailers globally by way of income. Mukesh Ambani additional revealed that Reliance Retail opened 1,840 new shops through the yr, bringing the whole retailer depend to 18,836, with a mixed retail area of 79 million sq. toes.
Additionally Learn | Reliance AGM 2024 Highlights: Mukesh Ambani announces RIL Board of Directors to meet for 1:1 bonus shares; big focus on AI
Moreover, the retail enterprise raised Rs 17,814 crore (USD 2.1 billion) at a valuation of USD 100 billion.
Isha Ambani emphasised Reliance Retail’s distinctive efficiency in varied segments, notably in grocery, the place the corporate has turn out to be the biggest and one of many fastest-growing retailers, increasing at a price 2.5 occasions sooner than the remainder of the fashionable commerce.
She attributed this development to the corporate’s concentrate on smaller cities, the place over two-thirds of their new shops are being established. In lots of of those markets, Reliance Retail is the primary trendy retailer to determine a presence.
Relating to Reliance Retail Client Manufacturers, Isha Ambani acknowledged that the enterprise is devoted to creating high-quality merchandise at inexpensive costs to drive elevated consumption throughout India.
The corporate has re-launched a number of standard manufacturers, together with Campa, Lotus Candies, and Sosyo. The preliminary success of those manufacturers has given Reliance Retail confidence in its strategic course.
