09 August 2023, Mumbai
Reliance Retail, the retail arm of billionaire Mukesh Ambani's Reliance Industries, has crossed the milestone of 1 billion transactions in FY23.
Expands reach into tier 2 and 3 markets
Adds multiple stores; The company also added 3,300 new stores, taking its total count to 18,040 stores with a total area of 65.6 million square feet. Reliance Retail plans to continue expanding its reach into tier 2 and 3 markets through store network expansion.
Omnification
The company's digital commerce and new commerce businesses contributed to 18% of its revenue in FY23. Reliance Retail is also investing in the backend warehousing and logistics assets of its retail business.
It has added 12.6 million sq ft of warehouse space during the year.
Reliance Retail has also forayed into the FMCG sector, relaunching the iconic beverage brand Campa and its own brand 'Independence'.
Vision
Its beauty business also launched the digital commerce platform 'Tira' and opened its flagship store in Mumbai.
Reliance Retail envisions expanding its offerings and scale of operations to make products available to Indian consumers at affordable prices.
