In RIL’s 36th Annual General Meeting (AGM), it was declared that the retail arm of the company is going to, witness a revenue growth of10-fold and become a Rs 45,000 crore enterprise in the next five years.
It has been reported that the company’s retail business record sales of Rs 4,500-crore in the fiscal year ended March 2010.
Currently, Reliance Retail operates nearly 1,150 stores in 86 cities across 14 states. India’s largest retail company Pantaloon Retail has reported a turnover of Rs 6,349 crore for the year ended June 30, 2009.
Although, the company has established retail market, it is in competition with Future Group, Aditya Birla Group and Tata Group. Reliance Retail also has tie-ups with other international brands like Marks & Spencer, Pearle Europe, Asics Corporation (Japan) and British toy major Hamleys.