Reliance Retail, the retail arm of Reliance Industries (RIL), has become a nearly Rs 2-trillion company in the financial year ended March 31, with value of sales and services at Rs 1.99 trillion during the fiscal, according to the company’s annual report.
During the year, RIL nearly doubled its warehousing space in the retail business to 22.7 million sq ft from 11.1 million sq ft a year ago, as it expanded its store count and invested Rs 30,000 crore in the business in FY22, the report said.
The company added 2,500 stores during the year, taking the total store count to 15,196 in FY22. Reliance Retail also added over 1.50 lakh jobs in 2021-2022, taking its total headcount to 3.61 lakh.
“Reliance Retail has built capabilities through organic growth, acquisitions and strategic partnerships with investments near `30,000 crore in FY2021-22. Reliance Retail added over 2,500 new stores and 11.1 million sq ft of warehousing space during the year,” RIL said.
During the financial year, Reliance Retail further strengthened its sourcing ecosystem, working closely with producers, MSMEs, service providers, and local and international brand companies, it added.
In FY22, on an average Reliance Retail added seven stores per day. The company’s merchant partnerships and digital commerce witnessed a substantial increase and contributed nearly 17% of its revenues compared with 10% in 2020-2021, it said.
Reliance Retail said that going forward, the company will “accelerate new store expansion” and continue emphasis on growing the digital commerce business.
Reliance Retail, which had in FY22 acquired a majority stake in Just Dial, partnered with several leading Indian and global couture labels and acquired franchise right, will “develop new brands, integrate acquisitions, launch and scale up new businesses”. It will also work to strengthen supply chain infrastructure and product and design ecosystems to support business growth.
In FY22, Reliance Retail witnessed growth from its new commerce, where merchant partners grew 3x year-on-year, while digital commerce orders grew 2.5x y-o-y. Its registered customer base now stands at 193 million, a growth of 24% y-o-y.
The company also said Reliance Retail’s investment in grocery delivery firm Milkbasket and quick commerce player Dunzo will “further strengthen its capabilities in serving customers”, the annual report added. Reliance Retail has integrated Milkbasket with JioMart and had 2x growth in daily subscription orders since the acquisition, it said.