08 August 2024, Mumbai
Reliance Retail plans to expand its store network further. In FY24, the company opened 1,840 new stores with its EBITDA growing by 28.4 per cent Y-o-Y to Rs 23,802 crore during the year.
The company continued to drive growth during the year by offering an assortment tailored for target customer segments, and opened new stores in the right catchment areas, as per its annual report.
Through its retail subsidiaries, the company also increased its customer base by 300 million during the year, making Reliance Retail one of the most preferred retailers in the country," the report noted.
In FY24, Reliance Retail formed several strategic partnerships and acquisitions. Besides, it undertook an equity fund raise of Rs 17,814 crore, with the business recording over a billion footfalls across its stores.
