NEW DELHI: Reliance Industries invested Rs 30,000 crore in its retail store and added 2,500 stores, bringing the total number of stores to 15,196 in FY22. Next to, trust retail added 11.1 million square feet of warehouse space during the year, nearly doubling warehouse space to 22.7 million square feet, trust Industries Ltd (RIL) in Annual Report for the financial year 22.
In FY22, Reliance Retail added over 1.50 000 new jobs, bringing the total headcount to 3.61 lakh.
During the year, Reliance Retail continued to strengthen its sourcing ecosystem, working closely with manufacturers, MSMEs, service providers and local and international brands, it added.
“Reliance Retail has built capacity through organic growth, acquisitions and strategic partnerships with investments approaching Rs 30,000 crore in FY2021-22. Reliance Retail added over 2,500 new stores and 11.1 million square feet of warehouse space during the year,” RIL said.
In FY22, Reliance Retail added an average of seven stores per day.
In addition, trade partnerships and digital commerce saw a significant increase, contributing nearly 17 percent of revenue, compared to 10 percent a year earlier, it said.
Discussing its strategic priorities and way forward, Reliance Retail said it will “accelerate new store expansion” and remain focused on growing its digital commerce business.
Reliance Retail, which acquired a majority stake in Just Dial in FY22, partnered with several leading Indian and global couture brands and acquired franchise rights, will “develop new brands, integrate acquisitions, create and grow new businesses.”
It will also work to strengthen supply chain infrastructure and product and design ecosystems to support business growth, the report said.
In FY22, Reliance Retail saw growth from its new commerce, with trading partners growing 3x year-on-year, while digital commerce orders growing 2.5x year-on-year. The registered customer base now stands at 193 million, a 24 percent year-over-year growth.
With the launch of JioMart, Reliance Retail has established itself as a leading player in hyperlocal delivery and fast commerce, the report said.
Additionally, Reliance Retail’s investment in grocery delivery company Milkbasket and quick commerce player Dunzo will “further strengthen its customer care capabilities,” the annual report added.
Reliance Retail has integrated Milkbasket with JioMart and has seen double the growth in daily subscription orders since the acquisition, it said.
During the year, Reliance Retail introduced new trading services for consumer electronics and pharmaceutical retailers.
“It has significantly expanded its commercial partnerships in the Grocery and Fashion & Lifestyle baskets. The platforms have seen robust growth in matrices such as order values and order frequency, reflecting trust and growing loyalty with trading partners,” it added.
For the financial year ended 31st March 2022, Reliance retail became nearly a Rs 2 billion business as the value of sales and services for the financial year stood at Rs 1,99,749 crore.
“Reliance Retail continues to grow rapidly due to new store expansion and favorable product mix, resulting in high operational leverage,” it said.
In fiscal 2022, Reliance also built on its portfolio of brands, offering its customers a superior value proposition and differentiated products.
According to the company, the broad-based growth in the retail sector is being led by India’s small towns and Reliance Retails has more than two-thirds of its store network in Tier II cities and below.
“This gives it a first-mover advantage in many small towns that leads to customer loyalty,” it added.
In FY22, Reliance Retail added over 1.50 000 new jobs, bringing the total headcount to 3.61 lakh.
During the year, Reliance Retail continued to strengthen its sourcing ecosystem, working closely with manufacturers, MSMEs, service providers and local and international brands, it added.
“Reliance Retail has built capacity through organic growth, acquisitions and strategic partnerships with investments approaching Rs 30,000 crore in FY2021-22. Reliance Retail added over 2,500 new stores and 11.1 million square feet of warehouse space during the year,” RIL said.
In FY22, Reliance Retail added an average of seven stores per day.
In addition, trade partnerships and digital commerce saw a significant increase, contributing nearly 17 percent of revenue, compared to 10 percent a year earlier, it said.
Discussing its strategic priorities and way forward, Reliance Retail said it will “accelerate new store expansion” and remain focused on growing its digital commerce business.
Reliance Retail, which acquired a majority stake in Just Dial in FY22, partnered with several leading Indian and global couture brands and acquired franchise rights, will “develop new brands, integrate acquisitions, create and grow new businesses.”
It will also work to strengthen supply chain infrastructure and product and design ecosystems to support business growth, the report said.
In FY22, Reliance Retail saw growth from its new commerce, with trading partners growing 3x year-on-year, while digital commerce orders growing 2.5x year-on-year. The registered customer base now stands at 193 million, a 24 percent year-over-year growth.
With the launch of JioMart, Reliance Retail has established itself as a leading player in hyperlocal delivery and fast commerce, the report said.
Additionally, Reliance Retail’s investment in grocery delivery company Milkbasket and quick commerce player Dunzo will “further strengthen its customer care capabilities,” the annual report added.
Reliance Retail has integrated Milkbasket with JioMart and has seen double the growth in daily subscription orders since the acquisition, it said.
During the year, Reliance Retail introduced new trading services for consumer electronics and pharmaceutical retailers.
“It has significantly expanded its commercial partnerships in the Grocery and Fashion & Lifestyle baskets. The platforms have seen robust growth in matrices such as order values and order frequency, reflecting trust and growing loyalty with trading partners,” it added.
For the financial year ended 31st March 2022, Reliance retail became nearly a Rs 2 billion business as the value of sales and services for the financial year stood at Rs 1,99,749 crore.
“Reliance Retail continues to grow rapidly due to new store expansion and favorable product mix, resulting in high operational leverage,” it said.
In fiscal 2022, Reliance also built on its portfolio of brands, offering its customers a superior value proposition and differentiated products.
According to the company, the broad-based growth in the retail sector is being led by India’s small towns and Reliance Retails has more than two-thirds of its store network in Tier II cities and below.
“This gives it a first-mover advantage in many small towns that leads to customer loyalty,” it added.
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