Reliance Retail is India's largest and most profitable retailer with a diversified omni-channel presence via integrated store concepts, digital and new commerce platforms. It provides consumers with an outstanding value proposition, superior quality products and an unmatched shopping experience.
Reliance Retail posted industry leading performance with record revenue and profit in an operating environment that was marked by sporadic disruptions through the year. The performance demonstrates robust business model, superior understanding of evolving consumer trends and is led by highly trained and capable staff who are relentlessly focused on serving our customers.

193 million

Customer base


Retail stores



*This includes on-roll, off-roll and third party personnels


To be the most admired and successful retail company in India that enhances the quality of life of every Indian.


  • Provide millions of customers with unlimited choice, outstanding value proposition, superior quality and unmatched experience across the full spectrum of products and services
  • Serve the entire spectrum of Indian society i.e. from households, kiranas and merchants, to small and medium enterprises and institutions
  • Reach the length and breadth of the country through our physical and digital distribution platforms
  • Be the partner of choice and enable win-win opportunities for producers, small and medium enterprises, brand companies and global suppliers
  • Generate direct and indirect employment opportunities with skill transformation and talent development on an unprecedented scale

Strategic Advantages and Competitive Strengths

Proven business model with agile execution and project management skills

Omni-channel player with the largest network of stores, digital and new commerce platforms

Leadership across focused consumption baskets

Deep understanding of consumer preferences and shopping behaviour

Strong supplier relationships providing portfolio of the widest, high-quality merchandise

Straddling the entire value chain – from product design and development to serving customers across segments

Cutting-edge technology to improve business efficiency and consumer experience

Extensive supply chain network that covers the length and breadth of the country

Performance Summary








Operating Model

Reliance Retail's operating model straddles across the retail value chain to unlock significant value for all the stakeholders.

Diversified Customer Touch Points

Reliance Retail has one of the world's largest omni-enabled retail store networks and operates an extensive portfolio of digital commerce platforms, bringing customers the widest range of products across its consumption baskets. It is supported by a well-trained workforce, a strong infrastructure backbone comprising of supply chain and technology capabilities.

Operating the largest store network in the country

15,196 stores with over 41.6 million square feet of retail space and presence across 7,000+ cities

Market leading digital commerce platforms

2.5x growth in daily orders Y-o-Y

Empowering merchant through new commerce platforms

3x growth in merchant sign-up Y-o-Y

Acquisitions and Partnerships

Reliance Retail announced a number of acquisitions and strategic alliances to strengthen its competencies and bolster its product offerings.

Merchant commerce

Acquired majority stake in Just Dial, India's leading local search engine platform

Convenience store

Entered into a master franchise agreement with 7-Eleven, Inc. for the launch and rapid scale-up of 7-Eleven® convenience stores in India

Daily subscription

Acquired Milkbasket, leading subscription based daily micro delivery platform

Fashion Brand

Acquired stakes across prominent Indian designer brands

Lifestyle brand

Bought Portico and Stellar Home brands, offering bed and bath solutions

Fashion Brands

Acquired Amante and Clovia, leading intimate wear brands to strengthen its product portfolio

Women’s wear speciality store

Women’s wear speciality store Acquired Kalanikethan to strengthen ethnic wear portfolio

Grocery store chain

Acquired Jaisuryas, a leading grocery chain to strengthen offering in the Southern markets

Supply chain automation

Bought majority stake in Addverb Technologies that provides warehouse automation solution and robotic systems for automated material handling

Digital commerce

Invested US$ 200 million in Dunzo, India’s leading quick commerce and last-mile fulfilment player.

Highlights FY 2021-22


All-time high revenue and profit delivery amidst a challenging operating environment

Registered customer base up by ~24% Y-o-Y to reach

193 million

Augmented digital
commerce offerings,
2.5x growth Y-o-Y in daily orders


~7 new stores added every day,

crossed 15,000
store milestone

Launched new store concepts

JioMart extends portfolio to cover electronics and beauty;

launches subscription service


Secured employees and their families –
~100% of all eligible employees and their families double vaccinated

Reliance Retail is investing resources in building Next-gen supply chain capabilities – added
11.1 million sq ft of warehousing space; capacity nearly doubled to 22.7 million sq ft


new jobs added, taking the employee base to 3,61,000

Reliance Retail is rated amongst the fastest growing retailers globally

New Commerce Merchant partner
base up 3x Y-o-Y

Bolstered retail capabilities through acquisition, partnerships and strategic investments with investment of
`9,700+ crore

Industry Overview

India has emerged as one of the most resilient global economies, having braved the macro-economic headwinds caused by COVID-19. The Indian economy is propelled by a solid domestic demand that accounts for 56% of India's GDP, which provides a strong foundation for a sustained growth of the Indian retail market. The learnings from the first wave of COVID-19, combined with a strong impetus on vaccination, helped reduce the pandemic’s impact on the economy in 2021. With a gradual fall in the number of cases and the easing of restrictions, production across major sectors is going back to pre-COVID levels. As the impact of the pandemic subsides and consumer demand resumes, the retail sector is expected to rebound and record a compounded growth rate of 11% to become a US$ 1.2 trillion market by 2025.

Emerging Trends and Business Response

Omni-channel takes centre stage

Serving customers through an omni-channel approach is emerging as a prerequisite to growth.

Our response
Reliance Retail has created the most extensive retail ecosystem in the country, with its retail outlets connected with digital commerce platforms to provide a unified consumer experience across channels. This integrated approach has significantly improved customer experience.


Growth in digital commerce sales in FY 2021-22

Growth in smaller towns

The broad-based growth in the retail sector is being led by India’s small towns.

Reliance Retail operates over two-third of its network of stores in Tier II and below towns. This provides it a first mover advantage across many small towns, leading to customer stickiness.


Of new stores launched in
FY 2021-22 were in Tier II and below towns

Quick commerce

Emerging business model to enhance customer experience.

With the launch of JioMart, Reliance Retail has established itself as the leading player in hyperlocal delivery and quick commerce. Its product selection continues to grow, with electronics, fashion, and now pharma available on its platform. Reliance Retail’s investment in Milkbasket and Dunzo will further strengthen its capabilities in serving customers.

48 million

JioMart apps downloaded

Increased spend on hygiene, health, and nutrition

Focus on health, hygiene and well-being takes center stage.

Reliance Retail has been a pioneer in identifying emerging consumer trends and has created an extensive range of home and personal care products under its own brand portfolio. During the year, it introduced Puric, a range of personal hygiene and home disinfectant products with more than 20 SKUs, which has received positive response from consumers.


Share of own brands in hand wash & hygiene category

Business Performance

Consumer Electronics

Reliance Retail is the leader in consumer electronics retailing in the country with 8,700+ Reliance Digital and MyJio Stores.

Consumer Electronics business model is centered around solution selling approach that is designed to offer a differentiated value proposition, strong in-store experience and extensive yet relevant product assortment and is complimented by an in-house after sales service through resQ.

Differentiated Store Concepts for Consumer Electronics

Largest big-box electronics chain with 400+ national and international brands

Small-store concept offering mobility and connectivity products across 7,000+ towns along with an extended catalogue for assisted online selling

India’s only ISO 9001 certified electronics service brand offering multi-brand, multi-product service covering end-to-end product life cycle
Digital platform with omni-channel capabilities for seamless experience across 2 ,000+ towns

Competitive Strengths
  • Technology purchase made simple through buying guides, tech experts and personalised selling
  • Order fulfilment within 24 hours of purchase
  • Ensure consumer comfort through resQ solutions that cover entire product life cycle
  • Preferred partner for all leading electronics brands - product launches, exclusive promotions
  • Exclusive product offering through a portfolio of own and licensed brands


Reliance Digital stores as of March 2022


Revenues from Tier II and below cities

Key Developments

Registered broad-based growth across categories particularly in laptops, mobiles and home appliances

Robust growth led by sharper opening price points ranges, successful festive and big day campaigns and category focused events

Launched Consumer Electronics on JioMart

Launched JioMart Digital, the New Consumer Electronics merchant platform

Strengthened own brand proposition by launching over 600 new SKUs; increased merchant partner penetration

Reliance Digital felicitated across multiple industry forums; notable amongst them:

  • The Economic Times Best Brands Award
  • MAPIC India Awards – Most Admired Retail Company of the Year

Fashion & Lifestyle

Reliance Retail is the largest fashion & Lifestyle retailer in India and has adopted a multi-format approach to service its customers through various retail concepts that cater to customer segments from value to premium and luxury.

Diverse Store Concepts for Fashion & Lifestyle

Market leader in value fashion retail with strong own brand portfolio and category-focused format extensions to tap niche demand

India’s leading sarees and ethnic wear retailer

Leading fashion & lifestyle digital commerce platform with 800K+ styles from India and around the world

Multi-brand family footwear retail chain with a wide assortment of own and branded products

Partner to 50+ international brands offering global shopping experience in India

India's leading online luxury destination for fashion & lifestyle brands

Destination for fine jewellery with 100% purity guarantee and thematic collections

Experiential toy store with presence across 17 countries; the oldest toy retailer globally

Omni-channel furniture and decor retail chain

Experiential one-stop destination for women’s ethnic wear

Leading destination for women’s intimate wear, with 100+ stores and delivery across 2,000+ cities

Competitive Strengths
  • Largest store network of 3,900+ omni-enabled stores across 1,000+ cities
  • Largest portfolio of international partner brands
  • Straddles the entire value chain of fibre to wardrobe, allowing it to deliver the most stylish and trendiest fashion to Indian customers
  • Strong own brand portfolio with multiple brands with annual turnover of US$ 100 million+


Fashion & Lifestyle stores opened in FY 2021-22


Y-o-Y increase in sales from Tier II and below cities

Strengthens women's ethnic wear and intimate wear category through acquisitions

Key Developments

Apparel and Footwear
  • Revenue more than doubles; surpasses pre-COVID levels on the back of increased conversions and bill values
  • Registered 2x increase in sales from Tier II and below towns, contributing to 50%+ of total revenues
  • Continued growth momentum for AJIO, with new highs set every quarter and a significant increase in customer KPIs and operating parameters
  • Entered saree category with the introduction of Avantra by Trends, and acquisition of Kalanikethan
  • Strengthened portfolio with the acquisition of Amanté, Clovia and Portico
  • Expanded own brands portfolio with the introduction of 3 mid-premium and 18 value brands

Robust growth driven by introduction of 17 national and regional collections

Partner Brands
  • Partnered with Valentino, La Martina, Starter, Balenciaga, and Adidas Young Athletes
  • Developed three new concepts: TWC Pop Up, TWC Books & Coffee, and Hamleys Play
  • Invested in Manish Malhotra, Ritu Kumar, ak-ok, Abraham & Thakore, Abujani Sandeep Khosla, and Rahul Mishra

Reliance Retail enters Indian ethnic wear category


Reliance Retail is the country's largest grocery retailer operating diverse formats to accommodate the varied needs and buying occasions of consumers.

Reliance Retail provides consumers a wide assortment of fresh produce, everyday products, and general merchandise in a contemporary shopping environment at an attractive value proposition through engaging store concepts and digital and New Commerce platforms.

Differentiated Store Concepts for Grocery

Value destination with wide assortment that meets customers’ monthly needs with an ‘Every Day Low Pricing’ promise

Multi-purpose neighbourhood stores with SMART’s price promise

Freshpik, a gourmet shopping destination offering delicacies from India and the world

Neighbourhood store offering premium merchandise selection

India’s leading hyperlocal platform with presence across 260+ cities offering a wide assortment of products across grocery, fashion, electronics and pharma

India’s leading subscription based daily micro-delivery service


Grocery stores opened
in FY 2021-22

3.7 million

Orders placed in the first two days of Tak Dhina Din sale


Competitive Strengths
  • India’s largest grocery store network with varied store formats assisting customers in their shopping mission
  • Integrated value chain supported by a robust network of collection centres, processing centres and distribution hubs
  • India’s largest hyper local grocery business with integrated subscription model
  • Partner of choice for leading Indian and international brands for new product launches, exclusive ranges and pack sizes
  • Wide portfolio of own brands across staples, home and personal care, and general merchandise

Key Developments

Growth ahead of market with record store and digital commerce sales

Integrated Milkbasket with JioMart - 2x growth in daily subscription orders since acquisition

Accelerated store expansion, opening 1,000+ new stores, bringing the overall store count to 2,400+ with over half in Tier II and below towns

Smart crosses 400-stores milestone

Launched Freshpik, a gourmet experience store, at Jio World Drive in Mumbai


Reliance Retail operates Netmeds, a chain of pharmacies and digital commerce platform, creating a seamless online-offline experience for customers seeking prescription medicines, beauty essentials, OTC products, Ayush wellness, health devices and more.

Key Developments

Strengthened hyperlocal capabilities for faster deliveries

Rapidly scaled up new merchant partnerships across 1,900+ cities


Reliance Retail serves as the master distributor for Jio connectivity services, which are sold through a network of MyJio and Digital stores. Additionally, it has partnered with over a million retailers throughout the country to provide Jio prepaid and post-paid plans via the sale of SIM cards, top-ups, and mobile devices.

New Commerce: A win-win-win Operating Model for growth and shared prosperity

The Indian retail market is the most fragmented in the world, characterised by the presence of millions of small kiranas. Operating in the unorganised space, the kiranas are constrained by various challenges, including the lack of: modern infrastructure, technology savviness, efficient sourcing capabilities and capital needed to serve the ever-evolving consumer needs.

Reliance Retail’s New Commerce initiative is bringing out the entrepreneurial spirit of the kiranas, by physically and digitally enabling them and bringing them at par with organised players.

Reliance Retail aims to integrate millions of small kiranas with producers, manufacturers and brands across India. Doing so would help them modernise, become more efficient and generate higher income. Reliance Retail is thus creating a win-win-win partnership with all stakeholders of the retail value chain. The ecosystem thus created would lead to a wider selection of products, superior quality, compelling value proposition and a finer shopping experience to millions of consumers buying from the kiranas.

During the year, the company launched New Commerce services for consumer electronics and pharma merchants. It has significantly scaled up its merchant partnerships across Grocery and Fashion & Lifestyle consumption baskets. The platforms have witnessed robust growth in matrices such as order values and frequency of orders, reflecting the trust and growing bond with the merchant partners.

Strategic priorities and way forward

Accelerate new store expansion
Continued emphasis on growing the digital commerce business across all consumption baskets through improved offers and service capabilities
Fast-track new merchant onboarding and increase wallet share across all consumption baskets
Develop new brands, integrate acquisitions, launch and scale up new businesses
Strengthen supply chain infrastructure, and product and design ecosystems to support rapid business growth
Reliance Retail strives to create an enabling workplace environment where each employee is provided the opportunity to participate, contribute, and grow. To ensure the safety, health and well-being of employees, various initiatives were undertaken during the year.

To help employees address stress during the unusual circumstances created by the pandemic, online yoga sessions were arranged during the International Yoga Month. For women, for whom the challenges have been multifold, Reliance’s focus has been to provide support and work flexibility. Many of them have opted to work-from-home. There have also been panel discussions and focused engagement with women employees every month through the times of COVID-19 to help them in better work-life integration.

All through the pandemic, efforts were directed at educating employees on safety, building resilience, and addressing health and nutrition concerns. Talks were also held on diverse parenting needs and addressing specific concerns during the pandemic.

Often specialised training becomes necessary to ensure the safety of both staff and the people they serve. Take the training on ‘Disaster Mitigation and Preparedness for Retail Outlets’, which was undertaken with the help of the National Institute of Disaster Management (NIDM). Specialised training also became mandatory for staff and contractors with the opening of the first Hamleys Play store in Mumbai, as required by the Protection of Children from Sexual Offense (POCSO) Act.

The health and safety of employees is of paramount importance at Reliance. An illustrative case is the ergonomic assessments taken during the year for Retail staff, whose work involves manual handling, or long hours where they are either required to stand or sit, all of which pose risks of musculoskeletal disorder. To address the concern, ergonomics assessments were conducted across all formats pan India for all job roles to identify ergonomic hazards and immediate action was taken to reduce the risk level.

Road safety is another area of concern. To address it, extensive trainings were arranged during the year. Frequent refresher trainings are also conducted for our delivery associates as well as for our delivery partners (GRAB riders) on road safety to ensure they remain safe while delivering essential items at the doorstep of customers.

Both online and offline engagement activities were held during the year to trigger conversations on safety and enhance the safety culture.

A Responsible Retailer – Sahakari Bhandar
“When store becomes good member of the society, commerce also flourishes”.

Today’s customers are hyper-aware of social, cultural and environmental issues. Responsibility towards our planet is no longer optional. Environmental consciousness matter more than ever to consumers and employees. That is why being responsible to the planet means being responsible to consumers & employees. At Sahakari Bhandar, we have taken many recycling initiatives to reduce the waste to reach landfills. One of them is,

Go Green with Tetra Pak - Empty tetra pack cartons are recycled in association with Tetra Pak India and the NGO – RUR

Currently 1 out of every 4 tetra pack cartons sold at Sahakari Bhandar stores is bought back for recycling.

For the collection of these tetra packs, 244 hubs & spokes are created which includes our grocery stores, housing societies, corporates, educational institutes and churches.

The business has partnered with an NGO for transportation of the collected tetra packs to a recycling company.

Since its inception (June 2010), Go Green with Tetra Pak has saved more than 1,000 trees by recycling beverage cartons into school desks and garden benches.

More than 9 million consumed cartons in Mumbai have been recycled in safe and effective manner with a technology that has zero discharge and zero water input.

The recycled cartons were converted into 350 school desks, 250 garden benches and 500 bins which were donated to the community.

School desk made out of Recycled Tetra Pack

Recycling challenge and Awareness campaign at School

Garden benches made out of Recycled Tetra Pack


The Indian retail market has been one of the most resilient in the world during the pandemic period, making a strong recovery when restrictions were lifted. The sector's core growth fundamentals continue to be strong. Rapid digitalisation and the introduction of breakthrough technologies have opened up new growth opportunities which would further boost long-term market prospects.

Reliance Retail’s commitment in the Indian retail sector is evident by the significant investments it has made in building and strengthening its capabilities across the retail value chain, which is having a transformational impact on the Indian retail landscape.

Reliance Retail will continue with its journey of bringing best-in-class products and services to consumers across the length and breadth of the country by further expanding its presence through physical stores and digital commerce platforms offering best of global and local brands and partnering with small producers and merchants, thereby creating a virtuous circle of prosperity for millions of Indians.