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Reliance Industries Ltd's (RIL's) retail arm, Reliance Retail, is all set to venture out into the fast-moving consumer goods business after making tremendous growth in the retail business.

“The objective of this business is to develop and deliver high quality, affordable products which solve every Indian's daily needs. As part of our commitment to India's rich culture and heritage, we will soon start marketing quality goods produced by tribals and other marginalised communities across India,” Isha Ambnani said during RIL's 45th AGM on Monday.

She said this would not only provide these communities gainful opportunities for employment and entrepreneurship but also help preserve the incredibly rich talent, skill sets and knowledge base of our traditional Indian artisans, especially women.

Addressing shareholders, RIL chairman Mukesh Ambani said that Reliance Retail was now among the top 10 retailers in Asia. Reliance Retail achieved a record of Rs 2 lakh crore turnover and an EBITDA of Rs 12,000 crore.

This year Reliance Retail served over 200 million registered customers, equivalent to the collective population of the UK, France and Italy, at Reliance Retail's physical stores and digital platforms.

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“Our digital commerce platforms continued their growth with nearly 600,000 orders being delivered every day, an increase of 2.5 times over last year,” Isha said.

She mentioned that JioMart, delivering in over 260 towns, was rated India's Number One trusted brand for online grocery. JioMart works on a hyperlocal delivery model and is India's largest deployment of omnichannel capabilities.

“We opened over 2,500 stores in the year to take our store count to over 15,000, spanning an operational area of 42 million square feet. We continue expanding our reach to more customers through the addition of store network and merchant partners,” said Isha.

Reliance Retail aims to serve over 7,500 towns and 300,000 villages in the next five years.

Commenting on the grocery business, Isha said that it is the largest in India, serving the daily needs of our customers through a network of nearly 2,500 stores and digital commerce platforms, JioMart and Milkbasket.

Reliance Retail also launched Freshpik, a gourmet format, in 2021 and rolled out 7-Eleven for on-the-go customers.

She further demonstrated how the WhatsApp-JioMart partnership works, which was launched in 2021, to enhance the shopping experience for customers.

On the WhatsAPP-JIOMart partnership, Mark Zuckerberg, chairman and CEO of Meta said that, chat-based experiences like this will be the go-to way people & businesses communicate in the years to come.

Also read: In pics: Reliance Retail forays into ultra-premium grocery segment with 'Freshpik' in Mumbai​

“Our digital commerce platforms of reliancedigital.in and JioMart provide a comprehensive omnichannel network, enabling us to deliver 93 percent online orders from stores within six hours,” she said.

Reliance Retail also rolled out the JioMart Digital (JMD) initiative during the year. The platform enables small electronics merchants to sell the entire product portfolio of Reliance Retail on an assisted selling model, helping them deliver superior customer experience and grow their income.

Commenting on the growth of Reliance Retail as a whole, Isha said, “We strengthened our own brands' business through the launch of 600 new SKUs during the year across categories of TVs, Home and Electrical Appliances. Our Fashion and Lifestyle business has the widest physical reach with nearly 4,000 stores in over 1,000 towns.”

As Reliance Retial plans to venture in FMCG business stocks of Britannia, Hindustan Unilever Limited, ITC and Nestle India, the major FMGC companies will be in focus tomorrow.

Catch live updates of Reliance Industries AGM here.

(Edited by : Nishtha Pandey)

First Published:Aug 29, 2022 3:20 PM IST