RIL AGM: Isha Ambani announces launch of FMCG Biz this year

NEW DELHI:  Reliance Retail's director, Isha Ambani, announced on Monday that this year, Reliance Retail will launch its fast-moving consumer goods (FMCG) business.

Isha Ambani said during RIL's 45th Annual General Meeting that this is being done with the goal of developing and delivering high-quality, affordable products that would meet every Indian's everyday needs.

Reliance Retail is one of the top 10 retailers in Asia and has a proud record of Rs 2 lakh crore in revenue and Rs 12,000 crore in Earnings before interest, taxes, depreciation, and amortization (EBITDA).

At its physical stores and online platforms, Reliance Retail supplied over 200 million registered customers, which is more than the combined populations of the UK, France, and Italy. The number of visits to the digital platforms was 4.5 billion, up 2.3 times from the previous year.

Nearly six lakh orders are delivered daily via its digital commerce channels, a rise of 2.5 times over the previous year. By connecting supply points and demand centres across the nation, it increased warehousing and fulfilment space by a factor of two to 670 million cu ft. More than 65% of total revenues came from its own brands.

The strategy of Reliance Retail's integration approach with small businesses is to give them a platform to grow. Its merchant partner base has increased to over 20 lakh partners since its start two years ago.

During the year, the business introduced the JioMart Digital (JMD) initiative, which enables small electronics retailers to sell the complete Reliance Retail product line using an assisted selling methodology.

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