Retail

Reliance Retail, India’s largest retailer, operates an integrated network of stores and digital commerce platforms, catering to diverse consumer needs across electronics, fashion, grocery and connectivity consumption baskets.

Reliance Retail’s operating model builds on the aspirational energy of the new, resurgent India. Its guiding philosophy rests on the tenets of enabling inclusion, growth, and building sustainable societal value for millions of Indians.

Strategic Objective

Transform the retail landscape in India through a win-win partnership model with all stakeholders in the retail value chain

18,836

Retail stores

79.1 Million sq. ft.

Retail area

>300 Million

Registered customer base

Subramaniam V.

Isha
Ambani

Akash
Ambani

Anant
Ambani

Bhakti
Modi

Ashwin
Khasgiwala

Dinesh
Taluja

Akhilesh
Prasad

Darshan
Mehta

Vineeth
Nair

Damodar
Mall

Brian
Bade

Kaushal
Nevrekar

Badal
Bagri

Sandeep
Varaganti

Sunil
Nayak

Bijay
Sahoo

Gulur
Venkatesh

Industry Overview

The Indian retail market is among the top five retail markets in the world and is estimated at US$ 951 billion in 2023. It remains one of the world’s fastest-growing markets and is poised to become the
third-largest market by 2030.

The growth of India’s retail sector is propelled by several factors, including increasing urbanisation, rising income levels, the expanding female workforce, and an aspirational young population. This growth extends across various town classes, benefiting numerous local, regional and international brands and manufacturers. They are being connected with consumers across diverse markets, thereby actively participating in India’s ongoing growth narrative. Grocery, fashion and lifestyle and consumer electronics constitutes over 90% of the market.

Source: Deloitte - Future of Retail

Business Performance

  • Reliance Retail delivered resilient performance with another year of steady growth in revenue and profit.
    The business recorded Gross Revenue of ` 3,06,848 crore, a growth of 17.8% over last year.
  • The business continued its strong track record of profit growth, registering an EBITDA of ` 23,082 crore for the year, up 28.4% Y-o-Y.
  • At 8.5%, EBITDA Margin continued to show improvements and grew 70 bps Y-o-Y.
  • The business opened 1,840 new stores. The total store count stands at 18,836 stores with an area of 79.1 Million sq ft.
  • Reliance Retail undertook equity fund raise of ` 17,814 crore during the year.
  • Stores witnessed over a billion footfalls, a significant milestone for the business.
  • The registered customer base crossed a milestone of 300 million, making Reliance Retail one of the most preferred retailers in the country.
  • During the year, the business made several strategic partnerships and acquisitions to strengthen capabilities and bolster its product offerings. Acquisition of Sephora India franchise; IP rights for Superdry for India, Sri Lanka and Bangladesh; India business of Kiko Milano; majority stake in Ed-a-Mama were amongst the notable ones.

FINANCIAL PERFORMANCE

* EBITDA margin is calculated on Revenue from Operations

Consumer Electronics

Reliance Retail is a leading player in consumer electronics retailing in India. It operates Reliance Digital and MyJio Stores, each designed to offer a differentiated value proposition, strong in-store experience, and extensive product assortment.

Strategic Progress

  • Retail stores maintained their growth momentum, led by a comprehensive selection of products with a strong value proposition.
  • resQ experienced strong growth in the past year, driven by expansion of service plans, categories and expansion of new service centres.
  • The own brands business witnessed introduction of new products across various categories and an extended distribution reach.
  • New Commerce business through JioMart Digital (JMD) continued its growth journey and expanded its merchant partner base.

Fashion and Lifestyle

Reliance Retail is the largest fashion and lifestyle retailer in India. Its fashion and lifestyle consumption basket operates a variety of store formats, tailored to meet diverse customer segments.

Strategic Progress

  • The business continued to drive growth through an assortment tailored for target customer segments and expanded in the right catchment areas through new store openings.
  • AJIO strengthened its proposition in F&L e-commerce space by enhancing its product catalogue and drawing in millions of customers with comprehensive brand catalogue across price points; Ajio Luxe delivered steady performance with a portfolio of over 600 brands.
  • New ‘Swadesh’ store format launched, focusing on India’s traditions and creative expressions through development of artisans and their art and craft forms.
  • New format ‘Yousta’ launched, a youth-focused fashion retail store offering fast fashion at affordable prices.
  • Premium brands business continued to lead the premium and luxury segment with the widest portfolio of brands.
  • Jewels business delivered another year of steady revenue growth through its focus on differentiated product offering, including collections inspired by India’s rich heritage.

Grocery

Reliance Retail is the largest grocery retailer in the country, operating a wide portfolio of formats, each offering distinct value proposition. These formats cater to daily and monthly shopping needs, providing essentials, fresh produce, and general merchandise, within a modern and welcoming shopping environment.

Strategic Progress

  • The grocery consumption basket delivered steady performance led by growth in footfalls and bill values.
  • Focus on range expansion across non-food categories remained a key priority. Stores witnessed continued growth in non-food category led by General Merchandise and Home & Personal Care categories.
  • The business collaborated with over 125 leading brands for the ‘SMART Bazaar Chaliye’ marketing campaign, an industry-first initiative.
  • During the year, the business completed the acquisition of Metro India. The business successfully integrated Metro India’s operations with grocery new commerce business to provide omni-channel experience and wider assortment to our B2B customers and merchant partners.

Consumer Brands

Reliance Retail is building a consumer brands business focused on enriching lives of people through indigenous products that are accessible and affordable.

Strategic Progress

  • The business has been expanding reach through a multi-channel distribution model, leveraging a network of Reliance Retail’s stores as well as digital and new commerce platforms.
  • Brands ‘Campa’ and ‘Independence’ have received good traction from trade channels and consumers.
  • The business continued to strengthen its portfolio of brands through new launches (Necto, Brew House and Campa Runner Energy) and acquisitions and partnerships (Ravalgaon and Elephant House), during the year.

>1.2 Billion

Customer Transactions

JioMart and Milkbasket

JioMart, a leading horizontal digital commerce platform, strives to simplify, expedite and enhance the shopping experience of millions of customers.

Milkbasket is a subscription-oriented service that makes it convenient for households to subscribe to the delivery of essential products daily.

Strategic Progress

  • JioMart delivered steady performance led by wider catalogue and higher average order value as customers shopped across categories on the platform
  • The focus on upgrading customer experience continued with several platform enhancements such as improved product search, return doorstep quality check for fashion, and others.

Connectivity

Reliance Retail serves as a master distributor for Jio’s connectivity services, offering a wide array of products and solutions to consumers across India. This includes mobile connectivity services, broadband internet, digital content, and related devices such as smartphones and routers.

Outlook

The Indian retail market is one of the fastest growing markets in the world and is expected to cross
US$ 1.4 trillion by 2027. Rising demand for premium and luxury products further fuels this growth trajectory, reflecting the evolving preferences with rising disposable incomes.

Reliance Retail’s commitment to the Indian retail sector is evident through the substantial investments made across the retail value chain over the years. Reliance Retail remains steadfast to innovation across formats and products to improve customer experience and serve evolving consumer needs.

Source: Technopak, IBEF