Reliance Retail, the retail arm of Mukesh Ambani-led Reliance Industries, is likely to announce the appointment of former Amul MD RS Sodhi, CNBC-TV18 and other media reports said citing unidentified sources. Sodhi, the former MD of Amul brand’s parent organisation Gujarat Cooperative Milk Marketing Federation (GCMMF), will likely help the Isha Ambani-led Reliance Retail to build on the growth of its grocery vertical, especially in the fruits and vegetables space. He could also help strengthen the firm’s presence in the consumer brands segment.
Reliance Retail did not confirm the information.
Sodhi resigned as the managing director of Amul in January this year. He had joined GCMMF as a sales officer around 40 years ago and had been at the helm since June 2010. He is also the president of Indian Dairy Association. RS Sodhi was on an extension for the last four years. Sodhi had a major role to play in the expansion and growth of GCMMF. When he took over as MD, the federation’s turnover was only Rs 9,774 crore in the 2010-11 fiscal, which touched Rs 61,000 crore in 2021-22 financial year.
The development comes at a time when Reliance has been focusing on expanding its presence across the Indian consumer retail market by launching a range of products in FMCG, home and personal care spaces. In a regulatory filing earlier, Reliance Industries had said that it aims to build an integrated FMCG company with an equal focus on backend sourcing. It recently announced the relaunch of the iconic software drink, Campa Cola. Reliance Industries had acquired the Campa business earlier last year, in 2022, for Rs 22 crore. In its results for the quarter ended 31 December, 2022 (Q3FY23), Reliance Retail, in particular, recorded its highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) at Rs 4,773 crore, up 24.9 per cent on-year.