Reliance Retail, the retail arm of Mukesh Ambani?s Reliance Industries Ltd (RIL), has reported healthy sales growth across all its formats for the quarter and financial year ended March 31, 2012, the company said in a media release.
Reliance Retail owns over 6.5 million square feet space through 1,300 stores in 18 states of India. ??The company will be rolling out more stores in 2012-13 which are currently in various stages of construction and planning,?? it said while announcing its results for the fourth quarter and financial year 2012.
During 2011-12, Reliance Retail experimented with new formats for maximising operational efficiency and utilisation of assets. It launched its new prototype Reliance Mart and Reliance Super, and also opened its first wholesale store Reliance Market.
The company?s wholesale outlets cater to mom-and-pop stores, small and medium businesses, hotels, restaurants and various institutional buyers. Its other specialty stores Reliance Trends and Reliance Digital doubled their footprint in the country, and attained leadership position in the segments they operate in.
Besides store expansion, the company also inked strategic deals through its lifestyle arm – Reliance Brands – with Iconix Brand Group, a company which owns fashion and home brands such as Ed Hardy, Mossimo, London Fog and Ocean Pacific. Reliance Brands also entered into a franchisee partnership with US clothing brand Kenneth Cole and UK apparel retailer Thomas Pink.