Positive sales indicators
Reliance Retail announces financial results; flattering sales, escalating footprint.April 21, 2012 | comments ( 0 ) |
Reliance retail maintained its position as the largest grocery retailer across India in the year gone by. It addressed the FY 2011-12 as a year of growth with consolidation. While new stores were added across all formats this year, the company garnered strong growth in sales from its existing stores. Under its value format, the company launched its new prototype of Reliance Mart and Reliance Super. Reliance Mart, the first wholesale outlet of the group, was also launched this year in Ahmedabad. After witnessing immense success in the format, it will aggressively work at its expansion in the coming year. Attaining leadership in their respective segments were Reliance Trends and Reliance Digital as they more than doubled their stores with their current standing at 90 and 74 stores respectively.
In addition, Reliance Retail has rapidly expanded the store network it operates through strategic partnerships, with premium and luxury brands such as Marks & Spencer, Diesel, Timberland, Quiksilver, Roxy and others. The company added 55 new stores under its partnership with Grand Vision, taking the total store count to over 150 stores and making it the fastest growing optical retail chain in the country.
During the year, Reliance Brands announced partnerships under different agreements with Iconix Brand Group, Kenneth Cole and Thomas Pink. Reliance Retail now operates more than 1,300 stores across 18 states and operates over 6.5 million square feet of retail space. The company’s loyalty membership programme, Reliance One, has grown to over 9 million members. Since last year, the collective revenue for textile, retail business, SEZ development and telecom/broadband business increased by Rs 3,472 crore.
Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited, said, “Our businesses have delivered industry leading performances. This is a reflection of the quality of our assets and growing demand for our products and services in India and internationally. Response to our organised retail business has been very encouraging and we will continue to expand our footprint by building more stores across verticals, formats and geographies.”
- Reliance Retail & Jio to jointly launch new e-commerce platform
- CCI gives nod to Samara Capital-Amazon's joint bid to buy More
- SoftBank eyes 40% stake in FirstCry for $400 million
- Vivo India launches 'Vivo Xchange' program in partnership with Cashify.in
- Milkbasket expands operations to Bengaluru
- Manyavar launches another store in Punjab
- Ola raises Rs 150 crore from Flipkart's Co-Founder Sachin Bansal
- Ananth Narayanan steps down as Myntra Jabong CEO
- DailyNinja celebrates 15 million orders fulfilled
- John Jacobs looks to garner Rs 500 crore revenue by March 2021