RIL AGM: Reliance Retail Will Focus On These Key Areas In FY22
Reliance Retail added 1,500 new stores in pandemic-marred FY21.
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.
