Reliance Retail will soon launch cash-and-carry format stores for the wholesale business, said the Chairman of Reliance Industries Ltd, Mr Mukesh Ambani, on Friday.

Addressing RIL's shareholders at the company's 37{+t}{+h} Annual General Meeting, Mr Ambani said, “Reliance Retail will soon launch a cash-and-carry format that is built on the principle of offering inclusive growth to all our retailer partners. This format will offer regional, national and international brands to millions of small traders and kirana shop owners.”

RIL's entry into the cash-and-carry space will put it into direct competition with multinationals like Wal-Mart, French retailer Carrefour and Germany's Metro.

Largest portfolio

Mr Ambani said that Reliance Retail already has the largest portfolio in terms of the number of formats and nearly 25 lakh customers shop at various stores of the company every week.

“Reliance Retail has been the pivot of our consumer facing business, so far. This initiative was founded on a consumer-facing business opportunity driven by consumption boom, favourable demographics and rising aspirations in India,” he said.

RIL had forayed into the retail arena with Reliance Fresh stores selling fruits, vegetables and other grocery items in 2006. Mr Ambani said the retail business has already become the largest food retailer in the country and that all of the specialty formats of the company would attain the top position in the respective segments in the next two years. The company currently operates 1,000 stores across 86 cities in the country, he said.

The firm also has partnerships with international brands such as Marks & Spencer, Apple, Asics, Timberland, Zegna, Diesel and Paul and Shark. “We continue to add a suite of best global brands across multiple categories,” he said.

Related Topics
comment COMMENT NOW