‘Reliance Retail to grow 3x in next 3-5 years, create 10 lakh jobs’
By Retail4Growth Team | Retail4Growth Team | June 25, 2021
Despite a challenging year, Reliance Retail had revenues of Rs 153,818 crore, and EBITDA of Rs 9,842 crore., and added 1,500 new stores, among the largest retail expansion undertaken by any retailer during this period, and plans to create 10 lakh jobs, said Mukesh Ambani , Chairman, Reliance Industries, at the company’s Annual General meeting held on June 24th.
Reliance Industries' retailing arm Reliance Retail would grow at least three times in the next 3 to 5 years, Chairman and Managing Director Mukesh Ambani said at the company’s Annual General Meeting held on June 24th.
Reliance Industries' retailing arm Reliance Retail would grow at least three times in the next 3 to 5 years, Chairman and Managing Director Mukesh Ambani said at the company’s Annual General Meeting held on June 24th.
He also informed that despite a challenging year, Reliance Retail had revenues of Rs153,818 crore, and EBITDA of Rs 9,842 crore for FY ‘21. “It continues to be among the fastest-growing retailers globally and the company aims to be among the top ten retailers of the world,” Ambani said.
”In the next three years, Reliance Retail will create employment opportunities for over ten lakh people and enable the livelihoods for many more,” he added.
In the pandemic impacted FY21, Reliance Retail added 1,500 new stores, which is among the largest retail expansion undertaken by any retailer during this period. Reliance Retail has a total store count of 12,711.
In addition, Reliance Retail will also reportedly expand its store footprint multi-fold this year, with co-located delivery hubs in the next few years. In FY21, Reliance Retail has also created over 65,000 new jobs. It currently employs over 2 lakh people, making it one of the largest employers in the country.
As per reports, Reliance Retail sells over a billion units of groceries or about 30 lakh units per day. On JioMart, Ambani said over 3 lakh merchant across 150 cities joined the platform, which has registered over 6.5 lakh peak orders in a single day, and over 3 lakh merchant were enabled and empowered to transform their businesses, a PTI report said.
He also informed that despite a challenging year, Reliance Retail had revenues of Rs153,818 crore, and EBITDA of Rs 9,842 crore for FY ‘21. “It continues to be among the fastest-growing retailers globally and the company aims to be among the top ten retailers of the world,” Ambani said.
”In the next three years, Reliance Retail will create employment opportunities for over ten lakh people and enable the livelihoods for many more,” he added.
In the pandemic impacted FY21, Reliance Retail added 1,500 new stores, which is among the largest retail expansion undertaken by any retailer during this period. Reliance Retail has a total store count of 12,711.
In addition, Reliance Retail will also reportedly expand its store footprint multi-fold this year, with co-located delivery hubs in the next few years. In FY21, Reliance Retail has also created over 65,000 new jobs. It currently employs over 2 lakh people, making it one of the largest employers in the country.
As per reports, Reliance Retail sells over a billion units of groceries or about 30 lakh units per day. On JioMart, Ambani said over 3 lakh merchant across 150 cities joined the platform, which has registered over 6.5 lakh peak orders in a single day, and over 3 lakh merchant were enabled and empowered to transform their businesses, a PTI report said.
