Mumbai, October 2 (MeelBijendra) – Reliance Retail further strengthened its position as the largest retailer in India and the only Indian retailer to feature in the top 100 retailers globally. Reliance Retail crossed the 1 billion transaction mark in the financial year 2022-23.
The retail business expanded its store network by adding over 3,300 new stores during the financial year 23 (FY23), taking the number of stores across India to 18,040.
Reliance Retail’s stores now cover 65.6 million square feet of store area which is an increase of over 50% in retail space compared to last year and the number of viewers increased by 50% compared to the previous year to 780 million.
The registered customer base also increased to 249 million, establishing Reliance Retail as the preferred shopping destination for Indian citizens across all formats.
During the year, Reliance Retail entered the beauty segment by launching the “Tira” digital platform and opening its flagship store in Mumbai, a densely populated and financial hub city on the west coast of India.
The business expanded its product basket through acquisitions and partnerships both locally and globally such as Metro, Campa Cola, GAP, Pret A Manger, Lotus, Sosyo, Maliban, and Toffeeman.
Reliance Retail runs an integrated network of physical stores, digital commerce, and new commerce initiatives. Through digital brands like Ajio and Netmeds, digital commerce is growing at a rapid pace and contributing to the strong growth of the retail segment.
The launch of JioMart on WhatsApp is truly a unique initiative that combines the online shopping experience with the simplicity of instant chat services.
The rapid expansion of its merchant partner network has been accompanied by rapid growth in new commerce business. Currently, more than 3 million merchants have partnered with Reliance Retail’s new commerce platforms.
EBITDA of the retail segment stood at INR 17,974 crore showing a strong growth of 44.7% over the previous year. EBITDA growth was well supported across segments from grocery to fashion and lifestyle.
Reliance Retail is an essential part of the shopping experience of Indian households not only in metro areas but also in Tier 2 and Tier 3 cities.
“Reliance Retail aims to expand its offerings and scale of operations to provide best-in-class products at affordable prices to Indian consumers”, the company said.