Reliance Retail expected to grow 3x in 3-5 years: Mukesh Ambani

Ambani added that the company will create employment opportunities for over ten lakh people and enable the livelihoods for many more. The company continues to be among the fastest-growing retailers globally and aims to be among the top ten retailers of the world.

Reliance Retail will continue to acquire businesses to heighten its offering, sharpen omnichannel capabilities, and drive operating efficiencies, as it has recently acquired digital platforms including Zivame, the chairman said. It is also looking to expand its store footprint multi-fold this year, with co-located delivery hubs in the next few years.

The company’s fashion portal Ajio has a portfolio of over 2,000 labels and brands along with a listing of over 5 lakh options. It now contributes to over 25 per cent of its apparel business. “Our apparel business sold nearly five lakh units per day and over 18 crore units during the year. This is equivalent to dressing the entire population of UK, Germany and Spain once,” he said.

Reliance Retail would further invest in research, design and product development capabilities along with strengthening its sourcing ecosystem and supply chain infrastructure to maximise efficiencies.

“An automated, modular, reliable and scalable warehousing and logistics ecosystem will enable us to deliver products anywhere across the country in the shortest possible time,” he said.

In the pandemic impacted FY21, Reliance Retail added 1,500 new stores, which is among the largest retail expansion undertaken by any retailer during this period. Reliance Retail has a total store count of 12,711. “We continue to maintain and strengthen our leadership position. Today, one in every eight Indians shops with Reliance Retail,” Ambani said.

In FY21, Reliance Retail has also created over 65,000 new jobs. It currently employs over 2 lakh people, making it one of the largest employers in the country. “Over the next three years, we shall further create employment for over ten lakh people and enable the livelihoods for many more,” he noted.

In FY21, Reliance Retail also agreed to acquire the retail and wholesale business along with the logistics and warehousing segment of the Future Group for a consideration of ₹24,713 crore. The deal is contested by Amazon and final order from the Supreme Court is awaited. Reliance Retail also executed India's largest fundraising of ₹47,265 crore in FY21 from global investors.

Fibre2Fashion News Desk (KD)