Retail value of Reliance Retail doubled in less than 3 years: Isha Ambani

During the 46th Annual General Meeting (AGM) of Reliance Industries Limited, Isha Ambani, director of Reliance Retail, said that the retail company saw around 1,000 million transactions last year

During the 46th Annual General Meeting of Reliance Industries Limited, Isha Ambani, director of Reliance Retail, said that the retail value of the company has doubled in under three years.

She noted that Reliance Retail recorded approximately 1,000 million transactions last year. The customer base expanded to nearly 250 million, witnessing over 780 million footfall in FY23.

JioMart successfully on-boarded over 25,000 artisans, weavers and micro-entrepreneurs, according to Ambani. The company inaugurated 3,300 new stores nationwide, taking the total count to 18,040 stores across India.

Ambani added that Reliance Retail is the only Indian retailer featured in the global top 100 list. In terms of sales, the company sold 500,000 laptops and 500 million garments during the past year.

Elaborating on the business model, she stated that the retail venture operates on four key principles: collaboration, consumer engagement, creativity, and care.

"We have achieved the milestone of partnering with more than three million merchants and currently serve around 98 per cent of India's PIN codes," she informed.

Ambani said that the company has ventured into numerous categories through a variety of brands and strategic partnerships, including Campa Cola, Sosyo, and Lotus.

Highlighting the integration of JioMart with WhatsApp, she remarked, "The launch has been a phenomenal success, seeing a nine-fold growth in JioMart customer numbers on WhatsApp since its debut in 2022."