Home / Knowledge / News / Apparel/Garments / Reliance Retail bags top rank in Indian retail market
Reliance Retail bags top rank in Indian retail market
23
Aug '13
The retail arm of Reliance Industries Limited (RIL), Reliance Retail has become the country's topmost retail chain. The company led by Mukesh Ambani has reported growth due to its presence in numerous formats.

Reliance Retail announced revenue of Rs 3,474 crore for the quarter which is a 53 percent jump from the revenue earned in the same quarterduring last year. It has reported an operating profit of Rs 70 crore. "Reliance Retail's faster growth is attributed to its presence in a large number of formats and its ability to scale fast," said DhvaniBavishi, analyst at domestic brokerage ICICI securities.

The biggest drivers in this growth are cash-and carry stores developed by the retail chain. Known as Reliance Market, the first cash-and-carry store opened in Ahmedabad in September 2011. At the end of 2012-13, 56 percent of Reliance Retail's revenue of Rs 10,800 crore came from its value segment that operated grocery chains like Reliance Fresh, Reliance Super and Reliance Hyper.

The company is rapidly expanding its cash-and-carry segment. It has opened six stores in the June quarter, which helped the company to gain a 53 percent growth in revenue. The cash-and-carry segment in our country was previously dominated by global retail giants. The retail arm of Reliance is the first Indian company to have entered in this segment.

Reliance Retail has been operational since last eight years and it has achieved the topmost position in the industry in a short span of time. The company is strategically divided in phases like 1.0, 2.0, 3.0 and 4.0 and caters in specified business segments like value, digital, lifestyle, jewellery and brands.

At the last annual general meeting, MukeshAmbani said, "We want to make retail business as one of our growth engines over the next few years. I am confident that our retail business would undertake multi-fold growth in the next few years by delivering over 50 percent revenue growth in various format sectors year-on-year and is on its way to achieve revenue target of Rs 40,000-50,000 crore as shared by me in our last AGM."

As a part of its expansion strategy, RIL has added 184 stores across format sectors. It is also planning to capture the consumers in tier-2 and tier-3 cities. Currently, the company owns around 1,500 stores in 130 cities across the country. "Our multi-format strategy is paying huge dividends with most of the formats having positioned themselves as market leaders and is poised for strong growth in the future." added Ambani.

Reliance Industries Limited


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

Indian inter-ministerial group to study e-commerce issues

Apparel/Garments | On 19th Apr 2018

Indian inter-ministerial group to study e-commerce issues

The Indian Government has set up an inter-ministerial group to study...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search