Reliance Retail is on a hyper growth trajectory to grow at least three times in the next three to five years, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani said on Thursday.
“Reliance Retail continues to be among the fastest growing retailers in the world. We are committed to grow our business so that we are among the top 10 retailers globally,” he said while addressing RIL’s 44th annual general meeting (AGM) held virtually.
Ambani said the apparel business sold nearly five lakh units per day and over 18 crore units during 2020-21. This is equivalent to dressing the entire population of UK, Germany and Spain once.
Ajio has emerged as one of the leading digital commerce platforms for fashion and lifestyle with a portfolio of over 2,000 labels and brands and listing of over five lakh options. Driven by innovation, Ajio now contributes to over 25 per cent of the apparel business.
Reliance Retail further consolidated its position in consumer electronics and sold 4.5 crore units of electronics last year which translates to over 1.2 lakh units per day. Omni commerce capabilities allow the company to deliver a service proposition across 1,300 cities.
As India’s largest grocery retailer, Reliance Retail sold over a billion units of groceries or about 30 lakh units per day.
The grocery staff operated on the frontlines of crisis ensuring availability of essential products to our customers and kirana partners.
JioMart registered over 6.5 lakh peak orders in a single day. Ambani said JioMart’s growth is a testament to its already loyal customer base, 80 per cent of whom are repeat shoppers.
JioMart new commerce’s aim is to transform and grow the small merchant ecosystem, so that merchant partners prosper.
Over the past year, said Ambani, over three lakh merchant or shop keeper partners across 150 cities were enabled and empowered to transform their businesses both physically and digitally.
This will trigger a socio-economic transformation on an extraordinary scale in India, especially when coupled with our mission of employment generation.
“Even in these challenging times, I am personally proud to report to you that Reliance Retail has not only protected jobs but also created over 65,000 new jobs,” said Ambani.
Reliance Retail currently employs over two lakh people, making it one of the largest employers in the country. Over the next three years, it aims to further create employment for over 10 lakh people and enable the livelihoods for more.
Ambani said Reliance Retail will continue acquiring businesses to heighten its offering and experience to customers, sharpen omni-channel capabilities, drive operating efficiencies and strengthen talent pool.
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