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Reliance retail is expected to triple in 3-5 years: Mukesh Ambani

Reliance Retail, the retail arm of Reliance Industries, will grow at least three times over the next three to five years, Chairman and Managing Director Mukesh Ambani said at RIL’s shareholders’ meeting Thursday. Despite the tough year, Reliance Retail’s 2009 sales were 1,53,818 chlores and EBITDA (earnings before tax) was 9,842 chlores.

Ambani added that the company will create employment opportunities for more than 100,000 rupees and enable more people to live. The company continues to be one of the fastest growing retailers in the world and aims to be one of the top 10 retailers in the world.

With the recent acquisition of digital platforms, including Zivame, Reliance Retail will continue to acquire businesses to enhance its offerings, enhance omni-channel capabilities and improve operational efficiency. We also aim to multiply the store’s footprint this year and place delivery hubs in the same location over the next few years.

The company’s fashion portal, Ajio, has a portfolio of over 2,000 labels and brands, listing options of over Rs 50,000. Currently, it contributes more than 25% of the apparel business. “Our apparel business sold about 5 rack units per day, 18 chlore units per year, which is equivalent to dressing the entire population of the UK, Germany and Spain once,” he said. Told.

Reliance Retail will strengthen its sourcing ecosystem and supply chain infrastructure to maximize efficiency, as well as invest more in research, design and product development capabilities.

“The automated, modular, reliable, scalable warehousing and logistics ecosystem enables us to deliver our products anywhere in the country in the shortest amount of time,” he said.

In the pandemic affected in 2009, Reliance Retail added 1,500 new stores. This is one of the largest retail expansions retailers have made during this period. The total number of Reliance Retail stores is 12,711. “We will continue to maintain and strengthen our leadership position. Today, one in eight Indian shops with Reliance Retail,” said Ambani.

In 2009, Reliance Retail also created over 65,000 new jobs. Currently, it employs more than 20,000 rupees and is one of the largest employers in the country. “Over the next three years, we will create more than Rs 100,000 jobs and enable more people to live,” he said.

In 2009, Reliance Retail also agreed to acquire a retail and wholesale business with Future Group’s logistics and warehousing divisions for a price of Rs 2,471.3 billion. The deal is being contested by Amazon and a final order from the Supreme Court is awaited. Reliance Retail also raised India’s largest 47,265 chlore funding from global investors in FY2009.

Fiber2Fashion News Desk (KD)

Reliance Retail, the retail arm of Reliance Industries, will grow at least three times over the next three to five years, Chairman and Managing Director Mukesh Ambani said at RIL’s shareholders’ meeting Thursday. Despite the tough year, Reliance Retail’s 2009 sales were 1,53,818 chlores and EBITDA (earnings before tax) was 9,842 chlores.



Reliance retail is expected to triple in 3-5 years: Mukesh Ambani

Source link Reliance retail is expected to triple in 3-5 years: Mukesh Ambani

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