Reliance Consumer Products, the fast-moving consumer goods (FMCG) arm and a wholly owned subsidiary of Reliance Retail Ventures, on Thursday launched its consumer packaged goods brand, Independence, in Gujarat.
The move follows the announcement at Reliance Industries‘ 45th annual general meeting in August that the company would foray into the FMCG space this year. Analysts had then viewed the development as the company getting into competition with FMCG majors like Hindustan Unilever, ITC and Marico.
The company said Independence will offer a wide range of products under several categories, including staples, processed food and other daily essentials. It plans to develop Gujarat as a “go-to-market” state to create excellence in execution for its FMCG business, as it prepares for a national rollout for the brand.
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In the coming months, the company plans to cover FMCG retailers across Gujarat, which will be supported by sampling activities and complemented with outdoor and print, radio and local television advertisements.
Earlier, as part of its entry into the FMCG segment, Reliance had acquired home-grown soft drink brand Campa. According to some reports, it was also in talks to acquire Garden, Lahori Zeera and Bindu Beverages, among others.
“I am happy to announce the launch of our own FMCG brand Independence which brings a wide choice of high quality and affordable products, including edible oils, pulses, grains, packaged foods and other daily need products,” Isha Ambani, director, Reliance Retail Ventures, said.
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During the AGM in August, she had said the objective of the FMCG business would be to develop and deliver products that solve every Indian’s daily needs with high quality products at affordable pricing.
Reliance Retail Ventures, through its subsidiaries and affiliates, operates over 16,500 stores and partners with over two million merchants across grocery, electronics, apparel, pharmacy, lingerie, home and furnishing, beauty and personal care. It reported a net profit of Rs 7,055 crore and consolidated turnover of over `1.99 trillion for the year ended March 31, 2022.
RRVL also operates omnichannel businesses through Jio Mart, Ajio, Netmeds, Zivame and other online channels. The company is rapidly growing the online part of the segment, with the digital platform seeing 4.5 billion visits in FY22 and nearly 600,000 orders being delivered every day.