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Reliance Retail to grow 3 times in next 3-5 years – Mukesh Ambani

Jun 24, 2021
RIL CMO MUKESH AMBANI

Mukesh Ambani said that Even in these challenging times, I am personally proud to report to you that Reliance Retail has not only protected jobs, but also created over 65,000 new jobs. Reliance Retail currently employs over 2 lakh people making us one of the largest employers in the country. Over the next three years, we shall further create employment for over ten lakh people and enable the livelihoods for many more.

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Despite challenging and restrictive 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.

Our apparel business sold nearly five lakh units per day and over 18 crore units during the year. This is equivalent to dressing the entire population of UK, Germany and Spain once.

Ajio has emerged as one of the leading digital commerce platforms for fashion and lifestyle with a portfolio of over 2,000 labels and brands and listing of over 5 lakh options. Driven by innovation, Ajio now contributes to over 25% of our apparel business.

We further consolidated our position in consumer electronics and sold 4.5 crore units of electronics last year which translates to over 120,000 units per day. Our Omni commerce capabilities allow us to deliver an unparalleled service proposition across 1,300 cities

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As India’s largest grocery retailer, Reliance Retail sold over a billion units of groceries or about 30 lakh units per day. Our grocery staff operated on the frontlines 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% of whom are repeat shoppers. 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 shop keeper partners across 150 cities were enabled and empowered to transform their businesses both physically and digitally.

Growth in the retail sector will usher growth across the value chain — from raw material producers to large and small manufacturers, from logistics service providers to merchants, to Consumers. In order to expand this circle of shared prosperity, we will be focussing on the following five key initiatives:

First, we will further invest in our research, design and product development capabilities. In the next year we will set up design, research, technology and innovation centres in key areas globally and nationally to develop differentiated offerings for our diverse customer groups.

Second, we will further strengthen our sourcing ecosystem working closely with producers, MSMEs, service providers, local and international brand companies. We will make them our partners in the journey of value creation that our New Commerce model seeks to unlock.

Third, we are investing in building state-of-the-art supply chain infrastructure across India by linking all major sourcing and consumption locations. This will maximise efficiencies and minimise losses in the supply chain, so that we can share the gains with both consumers and producers. An automated, modular, reliable and scalable warehousing and logistics ecosystem will enable us to deliver products anywhere across the country in the shortest possible time.

Fourth, we will focus on expanding our store footprint multi-fold this year with co-located delivery hubs over the next few years. They will provide a strong network to reach and serve millions of merchants and customers.

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And fifth, we will continue acquiring businesses to heighten our offering and experience to customers, sharpen our omni-channel capabilities, drive operating efficiencies and strengthen our talent pool. Recent acquisitions include leading physical/digital commerce platforms like Netmeds, Urban Ladder and Zivame.

In the last 10 years, Reliance invested over $90 billion in creating substantial wealth for the nation and value for the shareholders. In the coming decade, Reliance has the capacity to catalyse investments of over $200 billion directly and through partners. These investments will also create over 10 lakh new employment opportunities, besides fostering thousands of small and medium enterprises across the country. I assure you that your Company will consistently increase payout to its shareholders as our earnings continue to grow. I am confident that Reliance’s multiple investment and business announcements today will help in kick-starting growth in the Indian economy.

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