Retail

Reliance Retail 2nd on Deloitte's Fastest 50 retailers list

10 May '21

2 min read

Pic: Casimiro PT / Shutterstock.com

Reliance Retail has secured the second position on Deloitte’s 2021 list of the fastest growing retailers in the world after topping the list earlier. It has ranked 53^rd on the Global Powers of Retailing Top 250 list, an improvement from the 56^th position last time. The Indian retailer recorded a year-on-year (YoY) growth of 41.8 per cent in FY2019.

The top three retailers in the world are Walmart, Amazon and Costco Wholesale Corporation, respectively, as per the Deloitte ‘Global Powers of Retailing 2021’ report. The minimum revenue for a company to enter the Top 250 rankings is $4 billion, up from $3.9 billion in the previous year.

The Top 10 list continued to be dominated by American companies, with seven of the ten companies being based in the US. Europe has the highest number of Top 250 retailers, with 87 companies based in the region, while North America has the highest share of Top 250 retail revenue (47.1 per cent).

Reliance is the only Indian retailer on Deloitte’s list, featuring consecutively for the fourth time.

Reliance Retail’s FY2019 growth is driven primarily by a 13.1 per cent increase in the number of stores in various domains including fashion and lifestyle, to 11,784 stores across more than 7,000 towns and cities in India at fiscal end. E-commerce is a second growth driver, through both digital commerce (B2C) and B2B. Reliance is also acquiring Future Group’s retail, wholesale and logistics units for $3.4 billion, which when fully approved, will almost double Reliance Retail’s store space, the report said.

Fibre2Fashion News Desk (KD)