Page 10 - Reliance Retail

Addverb eyes Rs 8,000 cr revenue; to invest Rs 500 cr in manufacturing

Reliance Retail-owned robotics firm Addverb expects to cross Rs 8,000-crore revenue mark in five years, with scaling up of manufacturing operations and diversifying target market base, a senior company official said. Addverb Technologies co-founder and CEO Sangeet Kumar told PTI that the company will invest Rs 500 crore in its Greater Noida-based robot manufacturing facility in phases to realise USD 1-billion revenue in five years. "We will invest Rs 500 crore in our manufacturing facility in phases. Once this investment is done, we expect revenue of USD 1 billion, which will be over Rs 8,000 crore," Kumar said. The company has already invested Rs 200 crore in its Greater Noida manufacturing unit which was inaugurated by Uttar Pradesh Chief Minister Yogi Adityanath last week. Addverb manufacturing unit is spread over 6 lakh square feet, out of which the company has built facility in about 2.5 lakh square feet. "Last year, we did revenue of Rs 450 crore. This year we are planning t

Dunzo4Business plans to expand into 10-15 new cities in next 18 months

Reliance Retail backed Dunzo's logistics arm Dunzo4Business plans to expand the business to 10-15 cities in the next 12-18 months, a senior company official has said. Dunzo co-founder and Dunzo4Business (D4B) head Dalvir Suri told PTI that the logistics aggregator firm is working, along with the government-supported Open Network for Digital Commerce (ONDC), to cater to intracity last mile delivery of products. "In a year's time or 18 months' time, along with ONDC and my b2b logistics business, we do see ourselves entering into 10 to 15 new cities," Suri said. He said that at present, D4B has a presence in about 10 cities. The company joined the ONDC platform about a year ago and, currently, claims to be serving 60-70 per of the total order received on the platform for the last mile delivery, besides orders received on Dunzo for delivery of groceries and some other merchants. "Bangalore, Delhi, Hyderabad and Chennai are four cities where they (ONDC users) are putting most of the ..

Reliance Retail, 6 others submit EoIs for Future Supply Chain Solutions

The Future group's warehousing and logistics requirements are managed by Future Supply Chain Solutions and were once considered critical to the operations of the group

Reliance completes acquisition of 51% stake in Lotus Chocolate Company

The acquisition of Lotus Chocolate is part of Reliance Retail's goal to grow its FMCG market, which it just entered

Reliance Retail hands over pink slips to 700 staff, many on watch list

Reliance Retail has retrenched more than 700 people from its business to business vertical Jio Mart, industry sources said on Tuesday. Isha Ambani-led Reliance Retail is now integrating the Indian cash & carry business of German retailer Metro AG after completion of a Rs 2,700 crore-deal. After the acquisition, employees of Metro were transferred to Reliance Retail and there were several instances of overlapping of roles as well as functions of employees and executives, the sources said. According to the sources, more than 700 people have been laid off. Reliance Retail has also started reviewing the roles of employees from other verticals of its retail business and has put hundreds of employees on performance improvement plans, they added. Besides, the sources said the company has asked many people in the sales team to move from regular employment on a monthly salary to a commission-based model. Under such a structure, these employees would receive their emoluments based on their

Reliance Retail begins layoff as JioMart B2B consolidation starts

Following the METRO buy, it shuts a few warehouses as part of the integration exercise

Chinese fast-fashion retailer SHEIN 100% Indian on return, says Centre

No FDI, only tech transfer by Chinese fast-fashion retailer

Shein is coming back to India. Here's why it was banned in the past

With Shein re-entering the Indian market, many speculate about what changed for the Chinese retailer to be allowed re-entrance. Here's all you need to know about the company, its ban and its future

Shein is ready to make its second entry into India with Reliance Retail

The Chinese e-commerce company had first entered the Indian market in 2017

Reliance Retail, Adani Group no longer bidding for Future Retail: Report

The new highest bid is from Space Mantra and five other companies have placed their bid for parts of the company

METRO completes deal with Reliance to sell its India Cash & Carry business

German retailer METRO AG on Thursday announced the completion of the sale of its Indian cash & Carry business to Reliance Retail Ventures Ltd (RRVL), which holds the retail empire of Reliance Industries Ltd. The deal includes all 31 wholesale stores operated by METRO Cash & Carry India and the entire real estate portfolio (6 store-occupied properties) to RRVL, said Metro AG in a statement. "METRO India will complement Reliance Retail's retail network in the future," it said. As per the deal, "all METRO India stores will continue to operate under the METRO brand during an agreed transition period." However, it also added, "For METRO employees and METRO customers, there will be no noticeable changes for the time being." Earlier on Dec 22 METRO and RRVL had announced the deal, as part of which billionaire Mukesh Ambani led firm will acquire German firm wholesale operations in India for Rs 2,850 crore. The deal will help Reliance Retail to strengthen its dominant position in ...

JC Flowers, Reliance Retail Ventures among 48 bidders for Future Retail

This month, the National Company Law Tribunal (NCLT) had granted an extension of 90 days for conducting the corporate insolvency resolution process (CIRP) of FRL and extended it to June 15, 2023

In tie-up with EL&N, Reliance to bring 'Instagrammable' cafes to India

Reliance announces exclusive partnership with EL&N after opening first Pret A Manger store

Reliance Retail enters JV with Circle E Retail for toy manufacturing

Reliance Retail, the country's leading retailer which owns iconic British toy brand Hamleys and home-grown toy brand Rowan, has entered into a joint venture with a Haryana-based firm for local manufacturing to meet the growing demand. The company has entered into a joint venture with Sonipat, Haryana-based Circle E Retail to vertically integrate its toy business. "We also had a JV with Circle E retail for toy manufacturing for vertical integration for our toys retailing business," said Reliance Retail CFO Dinesh Taluja during an earnings call last week. The company is now working on a strategy of integrating processes from design to shelf, according to industry sources. Under this, Reliance Retail would have control over the entire aspects of the toy ecosystem, right from designing and manufacturing to retailing of the product. This will also help Reliance reduce dependency on third-party manufacturers in phases. This new venture will cater for both the toys brands - Hamleys and

Reliance Retail Q4 net profit up 13% to Rs 2,415 crore; finance cost jumps

The business recorded gross revenue of more than Rs 2.60 trillion for FY23, a growth rate of 30% over last year

Reliance Retail Q4 profit rises 12.9% to Rs 2,415 cr, revenue up 21%

Its pre-tax profit (Ebitda) during the quarter was also up 32.63 per cent to Rs 4,914 crore

O2C segment may drive RIL's Q4FY23 revenue; retail, telco stable: Analysts

RIL Q4 preview: Analysts expect steady improvement across all segments of Reliance Industries in Q4FY23, with stronger base gross refining margins, and reduced impact of windfall tax

India Inc leans on InvITs to reduce debt, generate returns for investors

Reliance Retail to join the club; High returns attract overseas investors to InvITs

Reliance, Jindal Power among 49 companies to submit EoIs for Future Retail

As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II". Some of the other players who have submitted Expression of Interest (EoI) include Century Copper Corp, Greentech worldwide, Harsha Vardhan Reddy, J C Flowers Asset Reconstruction Pvt Ltd, Pinnacle Air Pvt Ltd, Universal Associates and WHSmith Travel Ltd amo

As Future Retail bankruptcy crawls, Adani and Reliance among bidders

Other names in list of prospective resolution applicants include Jindal Power, WH Smith Travel Ltd