From sourcing to warehousing, Reliance Industries Ltd. has outlined key focus areas for its retail business in the ongoing financial year and beyond.
At the oil-to-telecom conglomerate’s 44th annual general meeting, Mukesh Ambani, chairman and managing director, listed the key initiatives for Reliance Retail Ltd. in FY22.
- Set up design, research, technology and innovation centres globally and nationally to develop differentiated offerings for customer groups.
- Strengthen the sourcing ecosystem by partnering with producers, MSMEs, service providers, local and international brands companies.
- Invest in building supply-chain infrastructure across India by linking all major sourcing and consumption locations to maximise efficiencies and minimise losses.
- Create an automated, modular, reliable and scalable warehousing and logistics ecosystem to help the company deliver products anywhere across the country in the shortest possible time.
- Expand store footprint multi-fold; co-located delivery hubs will follow over the next few years.
- Continue acquiring businesses to improve its offerings and consumer experience. Recent acquisitions include e-commerce platforms like Netmeds, Urban Ladder and Zivame.
Reliance Retail Ltd. added 1,500 new stores, taking its total store count to 12,711, in the pandemic-marred FY21.
“We’re committed to grow our business so that we are among the top 10 retailers globally,” Ambani said. “I’m confident Reliance Retail is on a hyper-growth trajectory to grow at least 3x in the next 3-5 years.”
Reliance Retail In Numbers:
- Sold 18 crore units in apparel.
- Ajio now contributes to over 25% of its apparel business.
- Sold 4.5 crore units of consumer electronics.
- Its omni-commerce capabilities allow the company to deliver across 1,300 cities.
- Sold over a billion units of groceries.
- Ambani said JioMart registered more than 6.5 lakh peak orders in a single day and 80% of its customers are repeat shoppers.
- Reliance Retail on-boarded more than 3 lakh merchants or shopkeepers across 150 cities.
- The retailer has seen a threefold growth in kirana orders and twofold growth in order frequency. It also plans to on-board one crore merchant partners over the next three years.
- The retail unit plans to increase its manpower from employing 2 lakh people to more than 10 lakh people in more than three years. BloombergQuint