Companies

Reliance Retail eyes 3x growth in 3-5 years

Our Bureau Mumbai | Updated on June 24, 2021

Reliance Retail added 1,500 stores, which is amongst the largest retail expansion undertaken by any retailer during this period   -  REUTERS

To onboard 1 crore merchant partners

Reliance Retail will onboard over one crore merchant partners over the next three years, said Mukesh Ambani, Chairman of Reliance Industries.

The retail arm aims to grow at least 3x in the next 3-5 years, he said at the Reliance Industries AGM for FY21.

Ambani said, “This past year was the true test for our business.” Despite challenging operating conditions, Reliance Retail continued to deliver industry-leading returns.

“We added 1,500 new stores, which is amongst the largest retail expansion undertaken by any retailer during this period, taking our store count to 12,711. We continue to maintain and strengthen our leadership position. Today, one in every eight Indians shops with Reliance Retail.”

Reliance Retail operates in apparel, grocery and electronics segments.

Small merchant ecosystem

Speaking about its grocery segment, Ambani said: “Our grocery staff operated on the front lines of crisis ensuring availability of essential products to our customers and kirana partners.

“JioMart registered over 6.5 lakh peak orders in a single day.”

JioMart’s growth is a testament to its already loyal customer base, 80 per cent of whom are repeat shoppers, he added.

He further said that JioMart New commerce’s aim is to transform and grow the small merchant ecosystem, so our merchant partners prosper.

Over the past year, over 3 lakh merchant or shopkeeper partners across 150 cities were enabled and empowered to transform their businesses both physically and digitally.

Published on June 24, 2021

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