Page 6 - Reliance Retail

Reliance Retail Q3 results: Net profit surges 32% to Rs 3,165 crore

Reliance Retail continued to expand and added 252 new stores in the quarter and also saw its footfalls cross 282 million across formats

Reliance Retail Q3 profit rises 31.87% to Rs 3,165 cr; revenue up 23.7%

Reliance Retail Venture Ltd (RRVL) on Friday reported a 31.87 per cent rise in its net profit to Rs 3,165 crore for the third quarter ended in December 2023. Its revenue from operations surged 23.75 per cent to Rs 74,373 crore in the December quarter of FY24, led by its grocery, fashion & lifestyle and consumer electronics businesses. The retail arm of billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) posted a net profit of Rs 2,400 crore in the October-December quarter of FY2022-23, and its revenue from operations was Rs 67,623 crore. The gross revenue of Reliance Retail was up 22.83 per cent to Rs 83,063 crore in the December quarter. Its EBITDA margin from operations on net sales was at 8.1 per cent, up 40 bps Y-o-Y driven by operating leverage and continued focus on cost management, said an earning statement from RIL. During the quarter, Reliance Retail added 252 new stores to its network, taking the total count to 18,774 stores. At the end of the December quarter, ..

The story of organising retail

Traders are still apprehensive about big retail, but organised players from Reliance Retail to Walmart are eager to forge alliances with them

Malls registered high demand this year, trend likely to continue in 2024

Most malls that opened in 2023 had commitments even before they became operational, and were occupied soon after their opening

Reliance Retail to scale up distribution of clothing under B2B venture

Reliance Retail has launched over 50 exclusive brands and plans to increase the number by 2-3 times, under its strategy to expand the fashion business beyond its own stores

France's fashion group SMCP strikes deal with Reliance to expand into India

Reliance Brands, a subsidiary of Ambani's Reliance Retail, has partnership deals with dozens of high-end European and American labels, including Bottega Veneta, Burberry, Valentino and Tiffany

Reliance Retail, Naturals Salon call off acquisition deal over valuation

Last year, Business Standard reported that Reliance Retail would foray into the salon business by acquiring a 49% stake in Naturals Salon & Spa

Reliance to take 'Swadesh' store to US, Europe retailing traditional art

Country's leading retailer Reliance Retail has plans to take its Swadesh store, retailing traditional Indian art and craft, to the US and Europe. Reliance Retail on Wednesday opened its first standalone store of Swadesh at Hyderabad, which was inaugurated by Nita Ambani, Founder and Chairperson of Reliance Foundation. Spread over 20,000 square feet, Swadesh store would have over 400 products of handmade textiles, handicrafts, agricultural products that are listed with geographical indications. It has facilitated the sourcing of 100 per cent authentic crafted products, directly from artisan communities having signed an agreement with the Ministry of Textiles. "Swadesh is an ode to India's traditional arts and artisans. It's our humble initiative to preserve and promote our country's age-old arts and crafts. Swadesh highlights the spirit of 'Make in India' and offers respect and sustenance to our skilled craftsmen and craftswomen," said Nita Ambani. Swadesh products are the pride of

Reliance Retail's first standalone 'Swadesh' store opens in Hyderabad

Founder and Chairperson of Reliance Foundation Nita Ambani on Wednesday inaugurated the first Swadesh' store by Reliance Retail here. Speaking at the launch of the first standalone Swadesh store Nita Ambani said, Swadesh is an ode to India's traditional arts and artisans. It's our humble initiative to preserve and promote our country's age-old arts and crafts. Swadesh highlights the spirit of Make in India' and offers respect and sustenance to our skilled craftsmen and craftswomen. Through Swadesh we hope to give them the global recognition that they richly deserve. That is why we are excited to expand Swadesh not just across India, but internationally too, in the US and Europe, she said, according to a release. The first Swadesh store in Jubilee Hills in the city, spread across 20,000 sq ft, will house an eclectic collection of carefully curated products made entirely by hand by India's skilled and talented artisans using long forgotten techniques and local materials, it said. The

Reliance Beauty buys Sephora India rights from Arvind Fashions for Rs 99 cr

The buyout gives Reliance Retail Ventures exclusive rights to build and enhance Sephora's presence in India across channels

Arvind Fashions to sell Sephora retail division to Reliance for Rs 99.02 cr

Reliance launched its own beauty retail platform, Tira, in April to take on the likes of Nykaa and the Tata Group

Reliance Retail, SBI Card collaborate to launch Reliance SBI card

SBI launched a credit card in collaboration with Reliance Retail for shopping at Reliance Retail outlets. These cards are available in two variants, Reliance SBI Card, and Reliance SBI Card PRIME

Reliance Retail extends Urban Ladder's presence at Smart Bazaar outlets

Leading retailer Reliance has extended the presence of its furniture and home decor brand Urban Ladder at its hypermarkets chain Smart Bazaar and also through b2b institutional sales. Reliance Retail, which owns lingerie brands Clovia, Amante, and Zivame, also said that it has now become a market leader in the women's innerwear market. "Our new businesses in lingerie, we are making good progress. We are the largest player in this segment now," said Reliance Retail CFO Dinesh Taluja during Friday's earnings call of RIL. Now Reliance Retail is looking to expand the lingerie category across retail formats such as Trends, Azorte, Centro and Blushlace, he said. "We continue to expand our in-house brands and we operate across the spectrum from mid-premium to luxury. We are focusing on general trade so that these brands have wide distribution, which will further deepen the penetration, and that continues to be a focus for all our brands in the portfolio within this segment," Taluja ...

Reliance Retail Q2 results: Net profit rises 21% to Rs 2,790 crore

During the quarter, Reliance Retail raised Rs 15,314 crore from KKR, Qatar Investment Authority and Abu Dhabi Investment Authority

Reliance Industries transfers Rs 5,150 cr to warehouse InvIT fund

Reliance Industries Ltd (RIL) has transferred Rs 5,150 crore earlier this week to its warehouse InvIT infrastructure investment trust (InvIT) entity. "Reliance Retail completed the transfer of assets to warehouse InvIT entity for a total consideration of Rs 5,150 crore on 25th October 2023," said the earning statement from Reliance Retail on Friday. The asset value is now reflected in the 'Other Financial Assets' segment, as of September 30, 2023, it added. RIL has set up an InvIT, under which the group can monetise the backend warehousing and logistics assets of its retail business. Reliance Retail, which operates the retail business of the billionaire Mukesh Ambani-led Reliance Industries, registered the trust with the market regulator Securities and Exchange Board of India (Sebi) in February this year. The funds raised by the InvIT will be used for the acquisition of warehousing and logistics-related assets through a special-purpose vehicle. Reliance Retail, which is aggressiv

Jindal India hops in with Future Enterprises bid, submits resolution plan

Only after Reliance Retail conveys its decision to Future Enterprises' creditors about its intent to either continue or walk out of the bidding process, will the bid be opened

Reliance Retail to open luxury stores under 'Swadesh' brand globally

These stores will focus on upscale ethnic handicrafts, fusion clothing, jewellery, blue pottery, silverware, home decor, and carpets

Reliance Retail Ventures to raise Rs 4,966.80 crore from ADIA arm

This investment by ADIA will translate into an equity stake of 0.59 per cent in the company on a fully diluted basis

Mukesh Ambani's Reliance Retail Ventures to raise $598 million from ADIA

The investment by ADIA at a valuation of $100.8 billion will translate into a stake of 0.59% in company, the retail unit of oil-to-retail conglomerate Reliance Industries said in a regulatory filing

Reliance Retail's JioMart ropes in MS Dhoni as its brand ambassador

JioMart has onboarded Reliance-owned brands including Urban Ladder, Reliance Trends, Reliance Jewels, Hamleys among others further augment the selection on the platform