Reliance Retail to launch B2B e-marketplace

The B2B digital marketplace which will enable kiranas to transact online; other arms of Reliance Retail will roll out their own e-commerce ventures later this year

Reliance Retail would launch a B2B digital marketplace to enable small retailers to transact online, chairman Mukesh Ambani said at Reliance Industries’ 41st annual general meeting today.

“We are rolling out the Reliance Digital Marketplace platform to enable millions of small retailers and provide them with an enhanced supplier base and product range, better supply chain productivity, digital payment capability, connectivity to customers and credit capability,” Ambani said. Reliance already runs ‘Reliance Market’ B2B stores.

Ambani said the fashion and lifestyle formats of Reliance Retail would launch their e-commerce portals by the end of the year. Reliance Retail runs fashion and lifestyle formats such as jewellery chain Reliance Jewels, durables and electronics chain Reliance Digital, apparel chain Reliance Trends, and footwear chain Reliance Footprint. After a pilot project in Mumbai, Reliance' Retail's grocery-focused e-commerce portal www.reliancefreshdirect.com would be launched in other markets, Ambani said.

“This year will bring about a disruptive shopping experience for consumers as they embrace technology and have access to anytime, anywhere shopping. With the advanced Internet infrastructure built by Reliance Jio and a robust physical retail business built by Reliance Retail, we will create a differentiated e-commerce model for India,” he  added.

Ambani said Reliance would scale up its retail presence across its formats from 200 cities to over 900 cities by next year. Reliance Retail added 930 stores last year, which translated into five stores every two days, setting a new global benchmark in the largest number of store openings in a year, he pointed out. “This combined physical and e-commerce retail business is poised for a growth of 30-50 per cent year on year and sustain our leadership in retail,” Ambani said. Reliance Retail has a network of 2,600 stores in 200 cities across 20 states.

IN PIPELINE

• Reliance Retail to roll out a B2B digital marketplace to help kiranas transact online
   
• Fashion & lifestyle formats of Reliance Retail to roll out e-commerce portals by Dec
   
• Grocery portal will be launched in other markets after running pilot in Mumbai

BUILDING UP

• Retail presence across formats to be raised from 200 cities to over 900 by next year
   
• Reliance Retail added 930 stores last year — five stores every two days — setting a new global benchmark in terms of largest number of store openings in a year
   
• It has a network of 2,600 stores in 200 cities