Reliance_Retail

Reliance Retail

Reliance Retail

Indian retail company

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue.[5] Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns.[1] Apart from physical stores, the company also sells products on its e-commerce channels.

Quick Facts Company type, ISIN ...

As of August 2023, the company is valued at $100 billion.[6][7]

History

In August 2021, Reliance Retail announced that it would acquire the retail, wholesale, logistics and warehousing business of Future Group for ₹24,713 crore (US$3.34 billion).[8] However, the deal was called off in April 2022 after a lengthy legal dispute between Future Group and Amazon.[9]

In September 2020, it was announced that American investment firm Silver Lake has bought 1.75% stake in Reliance Retail for ₹7,500 crore (US$940 million) valuing the business at ₹4.28 trillion (US$54 billion).[10] On 23 September, it was announced that KKR has bought 1.28% stake for ₹5,500 crore valuing the venture at ₹4.28 trillion or $58 billion.[11]

In October 2020, Singapore's GIC bought a 1.22% stake for $752 million, while TPG acquired a 0.41% stake for $250 million giving Reliance Retail a pre-money valuation of $58.5 billion.[12]

On 7 October 2021, the company announced its partnership with 7-Eleven to open its stores in India.[13] The announcement came a day after Future Group announced the end of its partnership with 7-Eleven, citing the inability to meet the target of opening stores and payment of franchisee fees. The first 7-Eleven in India opened in Mumbai.[14]

On 6 January 2022, Reliance Retail invested $200 million in Dunzo for a 25.8% stake.[15]

In 2022, soft drink brand Campa Cola was acquired by Reliance Industries for ₹22 crores. In March 2023, Reliance Consumer Products (RCPL), the fast-moving consumer goods arm and subsidiary of Reliance Retail Ventures (RRVL), announced the relaunch of Campa Cola in three variants (cola, orange and lemon) at select stores.[16]

In February 2023, Reliance Retail began accepting India's central bank digital currency (CBDC), the Digital Rupee.[17]

In August 2023, the Qatar Investment Authority invested $1 billion in Reliance Retail for a 0.99% stake in the company at a $100 billion valuation.[6] In October 2023, the Abu Dhabi Investment Authority acquired a 0.59% stake in the company with an investment of nearly $600 million.[18]

Financials

Reliance Retail had a turnover of ₹337 billion in the financial year 2016–17. Reliance Retail announced revenues of ₹450 billion for the nine months ended December 2017 for financial year 2017–18, showing over a 90% jump from the corresponding previous period. The company also reported a profit of ₹7 billion for the period.[19][20][21]

Subsidiaries and divisions

Reliance Mall, Delhi
Reliance Mall, Nizamabad
Inside a Reliance Smart convenience store in Ahmedabad
A Reliance Trends Woman store in Kollam.
A Hamleys store in London
Metro Cash & Carry, Kolkata
Reliance Centro, Pune

There are over 45 subsidiaries and divisions of Reliance Retail.[22]

Major divisions

More information No., Name ...

Acquisitions

More information No., Name ...

Products and services

Private label products

Although Reliance Retail's grocery businesses primarily markets products of third party FMCG players, they also sell inhouse brands including: Best Farms, Good Life, Enzo, Mopz, Expelz and Home One.[48][49][50]

References

  1. [1]
    Prabhakar, Sai (12 July 2023). "Reliance Retail: What's in store?". BusinessLine. Retrieved 31 August 2023.
  2. [2]
    "RELIANCE RETAIL LIMITED Annual Report 2022–23". Reliance Retail. Retrieved 21 April 2023.
  3. [3]
    "Reliance Industries financials".
  4. [4]
    "Reliance Retail says it is set to lead the retail industry in the coming decade". mint. 6 August 2023. Retrieved 31 August 2023.
  5. [5]
    Annual Report, RIL (20 July 2020). "Reliance Retail sales cross $23 bn mark". Reliance Industries Limited. Retrieved 11 September 2020.
  6. [6]
    Rosendar, Yessar. "Qatar Investment Authority Invests $1 Billion In Mukesh Ambani's Reliance Retail Ventures". Forbes. Retrieved 25 August 2023.
  7. [7]
    "QIA deal reaffirms Reliance Retail Venture's $100 billion valuation, say brokerages". Moneycontrol. 24 August 2023. Retrieved 25 August 2023.
  8. [8]
    Deb, Aparna (29 August 2020). "Reliance Retail buys Kishore Biyani's Future retail for Rs 24,713 crore". Times Now.
  9. [9]
    Singh, Manish (23 April 2022). "Reliance calls off $3.4 billion deal with Future Group". TechCrunch. Retrieved 29 June 2023.
  10. [10]
    Dsouza, Sharleen (11 September 2020). "Brokerage view on Silver Lake investment in Reliance retail". Bloomberg Quint. Retrieved 11 September 2020.
  11. [11]
    "KKR-Reliance Retail deal: American buyout firm to invest Rs 5,550 crore for 1.28% in RIL unit". Moneycontrol. 23 September 2020. Retrieved 23 September 2020.
  12. [12]
    "TechCrunch". TechCrunch. 2 October 2020. Retrieved 5 October 2020.
  13. [13]
    "Reliance Retail to launch first 7-Eleven store in India this week; Mukesh Ambani takes master franchise". The Financial Express. 7 October 2021. Retrieved 7 October 2021.
  14. [14]
    Livemint (7 October 2021). "Reliance Retail to launch 7-Eleven convenience stores in India". mint. Retrieved 7 October 2021.
  15. [15]
    "Reliance Retail picks up 25.8% stake in Dunzo, leads $240 mn funding". The Economic Times. 6 January 2022. Retrieved 6 January 2022.
  16. [16]
    "Campa Cola is back: Mukesh Ambani's Reliance Industries relaunches iconic Campa in 3 flavours". Financialexpress. Retrieved 10 March 2023.
  17. [17]
    "Reliance Retail starts accepting RBI's Digital Rupee". The Times of India. 7 February 2023. ISSN 0971-8257. Retrieved 4 September 2023.
  18. [18]
    Singh, Manish (6 October 2023). "Abu Dhabi sovereign-wealth fund invests nearly $600M in Reliance Retail at $100B valuation". TechCrunch. Retrieved 6 October 2023.
  19. [19]
    "Reliance Retail's pre-tax profit jumps 40% in FY17 - ET Retail". ETRetail.com. Retrieved 13 September 2018.
  20. [20]
    "Reliance Retail's total revenue up by 21.2 percent - ET Retail". ETRetail.com. Retrieved 13 September 2018.
  21. [21]
    "Reliance retail reports highest ever quarterly turnover of Rs 6,042 crore in Q3". The Economic Times. 2016. Retrieved 13 September 2018.
  22. [22]
    "Subsidiaries of Reliance Retail Limited". ril.com. Archived from the original on 12 August 2013. Retrieved 27 August 2013.
  23. [23]
    "Few RIL retail arms still making losses". Business Standard. 11 May 2013. Retrieved 27 August 2013.
  24. [24]
    "Reliance SMART JioMart"
  25. [25]
    "Reliance Retail's growth trail". The Hindu Businessline. 31 July 2013. Retrieved 19 August 2013.
  26. [26]
    "Reliance Retail: King Of Indian Retail". Outlook. Retrieved 13 August 2023.
  27. [27]
    "Reliance Jewels launches premium flagship showroom in Ahmedabad". Business Line. 25 June 2018. Retrieved 13 August 2023.
  28. [28]
    "Reliance Retail plans major expansion of Reliance Trends in e-commerce push". mint. 8 March 2019. Retrieved 13 August 2023.
  29. [29]
    "Reliance Footprint opens 100th showroom". Business Line. 26 July 2012. Retrieved 13 August 2023.
  30. [30]
    Gandhi, Forum. "Reliance Retail's AJIO to start selling luxury brands". @businessline. Retrieved 17 November 2020.
  31. [31]
    "Mukesh Ambani's JioMart expands to 200 Indian cities in challenge to Amazon and Flipkart"
  32. [32]
    Mint, The. "Reliance Retail".
  33. [33]
    "Reliance Retail launches first beauty store Tira in Mumbai, plans to expand across 100 cities". Business Line. 5 April 2023. Retrieved 13 August 2023.
  34. [34]
    "Reliance Brands completes acquisition of Hamleys". The Economic Times. Retrieved 17 November 2020.
  35. [35]
    "Reliance Retail acquires Shri Kannan Departmental Store for ₹152.5 crore"
  36. [36]
    Sharma, Samidha; Peermohamed, Alnoor. "Reliance retail acquires majority stake in Netmeds' parent for Rs 620 crore". The Economic Times. Retrieved 17 November 2020.
  37. [37]
    "Reliance Retail acquires Urban Ladder for ₹182 crore – at a sixth of the startup's peak valuation in 2018". Business Insider. Retrieved 17 November 2020.
  38. [38]
    Singh, Manish (November 15, 2020). "Reliance Retail buys Urban Ladder for $24.4 million". TechCruch. Retrieved 15 November 2020.
  39. [39]
    "Reliance Retail acquires about 55% stake in Addverb Technologies: RIL". Business Standard. 19 January 2022. Retrieved 29 November 2022.
  40. [40]
    "Reliance Retail acquires 'amante' from MAS Holdings". The Economic Times. Retrieved 29 November 2022.
  41. [41]
    Singh, Manish (20 March 2020). "Why Reliance is betting big on lingerie; influencers' incomes on the rise".
  42. [42]
    Singh, Manish (20 March 2022). "Reliance Retail acquires majority stake in D2C brand Clovia for $125 million". TechCrunch. Retrieved 29 November 2022.
  43. [43]
    "Reliance Retail buys Just Dial for Rs 5,710 crore". The Times of India. 17 July 2021. Retrieved 28 August 2023.
  44. [44]
    Vardhan, Jai (17 February 2021). "Exclusive: Reliance set to acquire MilkBasket for over $40 Mn". Entrackr. Retrieved 29 June 2023.
  45. [45]
    Baruah, Rituraj (23 October 2021). "Reliance Retail Completes Milkbasket Acquisition". Inc42 Media. Retrieved 29 June 2023.
  46. [46]
    "Reliance Retail begins layoff as JioMart B2B consolidation starts".
  47. [47]
    "Reliance Retail acquires footwear retailer V Retail". The Times of India. 21 January 2023. Retrieved 5 October 2023.
  48. [48]
    "Mukesh Ambani's Reliance Retail plans to sell in-house brands in kirana stores". www.businesstoday.in. 29 July 2019. Retrieved 10 March 2021.
  49. [49]
    Pathak, Kalpana (29 July 2019). "RIL plans a big push for private-label brands". mint. Retrieved 10 March 2021.
  50. [50]
    Pathak, Kalpana (25 May 2020). "For Reliance Retail's JioMart, private labels are the way to go". mint. Retrieved 10 March 2021.
Share this article:

This article uses material from the Wikipedia article Reliance_Retail, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.