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India’s RIL Retail revenue will increase by 26.7% in 2022

RIL Retail had total revenue of $ 26.3 billion in 2022, up 26.7% from last year, driven by widespread growth across all consumption baskets. This is despite the annual COVID limit of 87% of stores up and 81% of footfalls recorded in stores compared to pre-COVID levels.

In the fourth quarter of 2022, Reliance Retail outperformed the festive quarter and achieved record quarterly revenue, despite the challenges posed by the Omicron wave epidemic and the breakaway from the festive quarter. The headwinds created by the January COVID situation were offset by strong growth in February and March as businesses took advantage of festive events and early summer settings.

The company saw a strong quarter in the fashion and lifestyle business, driven by local revitalization and early launch of spring-summer products during the regional festival. Trend Small Town continues to expand rapidly. Over the 600 store milestone in the fourth quarter, more than 100 stores were added during the quarter.

RIL Retail had total revenue of $ 26.3 billion in 2022, up 26.7% from last year, driven by widespread growth across all consumption baskets. This is despite the annual COVID limit of 87% of stores up and 81% of footfalls recorded in stores compared to pre-COVID levels.

AJIO continues to grow with the addition of new brands, catalog expansions and high-impact campaigns. As evidenced by the growing market share in smaller towns, the seeds of the digital fashion revolution are widespread, with nearly two-thirds of orders coming from towns below Tier 3. The business has expanded its merchant partner base in more than 3,500 towns, with revenue growth more than 3.5 times last year. The platform continues to enhance its offering by increasing its own brand catalog with the introduction of regional and local brands.

In the luxury / premium brand business, the recovery of mall stores and the sustainable growth of digital commerce platforms drove revenue growth. During this period, the business has strengthened its portfolio through strategic partnerships with leading Indian fashion designers. Zivame achieved another strong quarter as it continues to expand its market model through new brands of onboarding and expansion into new categories of fashion accessories, beauty and personal care.

“Despite the ongoing challenges of pandemics and rising geopolitical uncertainties, Reliance performed well from 2021 to 2010. We can report strong growth in the digital services and retail sectors. We are pleased. Our O2C business has proven its resilience and has shown a strong recovery despite fluctuations in the energy market. ” Mukesh D Ambani, Chairman and Managing Director of Reliance Industries LimitedSaid.

“Our constant focus on customer satisfaction and service has led to increased engagement, increased footfall, and a gradual opening of the economy across the consumer business. And, the sustainable high utilization rate throughout the site and the improvement of the margin and quantity of transportation fuel strengthened the profit of O2C. In particular, we are satisfied with the progress of our new energy and new materials business. And with our strong global partnership, Reliance is sustainable and helps India meet its growing energy needs while ensuring that India achieves its ambitious goal of zero net carbon by 2035. We are confident that we will create a new and affordable energy solution, “Ambani explained. ..

Fiber2Fashion News Desk (RR)



India’s RIL Retail revenue will increase by 26.7% in 2022

Source link India’s RIL Retail revenue will increase by 26.7% in 2022

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