Reliance Retail has been consistently expanding at the rate of more than one store every day for the last five years, according to the FY18 annual report of Reliance Industries (RIL). Reliance Retail achieved a turnover of Rs 69,198 crore in FY18, more than doubling from the turnover of Rs 33,765 crore achieved in the previous fiscal. The business delivered an Ebit of Rs 2,064 crore for FY18, more than doubling from Rs 784 crore achieved last year, the annual report indicated.
During the year, Reliance Retail added 221 stores and 3,736 Jio Points. As on March 31, Reliance Retail operated 7,573 retail stores in over 4,400 cities covering an area of 17.7 million square feet. It operated 495 petro retail outlets.
RIL pointed out in its annual report that according to Nielsen, Reliance Fresh and Smart account for over 50% of all fruits and vegetables sold in modern trade. In petro retail, 47 petro retail outlets were recommissioned during the year. RIL also indicated in its annual report that Reliance Retail has aggressive expansion plans.
It has the ambition of reaching the hinterlands of the country and is putting together a framework of expanding each store concepts across tier 2, tier 3 cities and beyond to achieve market leadership.
It will leverage and interplay strengths with Reliance Jio to execute this. Reliance Retail will be adopting next-generation technologies that are robust to handle ever-increasing volumes, flexible to meet diverse customer expectations and automation to improve productivity, efficiency and agility.