Reliance Retail news

BigBasket has reported a 36% increase in its revenue to INR38,180m (US$525m) in FY20 (ending March 2020).  However, with overall expenses increasing 31% to INR44,114m (US$605m) the retailer reported losses of 26%, equating to INR7,099m (US$97m).   Intense B2B competition with the entry of big players Supermarket Grocery Supplies (SGS) operates e-grocery platform BigBasket, which supplies Ki...

Reliance Retail plans to integrate its own e-commerce app JioMart into WhatsApp, within the next six months.  This would enable 400m users of India’s most popular messaging app to order food and grocery products, without having to switch to another platform. Integration challenges Flipkart and Amazon in India’s online retail market Customers can place their orders on JioMart by adding its W...

Reliance Retail will depart from its previous strategy of directly selling packaged grocery products.  Instead, its e-commerce platform JioMart will soon use Kirana stores as franchise partners to deliver non-perishable grocery items in India.  Kiranas will be leveraged for non-perishable items; Reliance Retail will fulfill perishable goods JioMart will utilise the existing inventory of the...

The Delhi high court recently upheld the proposed merger of Future Retail Limited (FRL) with Reliance Retail Ventures Limited (RNRL), following a challenge by Amazon.  It has also allowed Amazon to continue opposing the merger in appropriate legal forums. Delhi high court clears Future-Reliance deal According to the Delhi high court, the transaction between Future and Reliance did not viola...

Reliance Retail Ventures, a subsidiary of Reliance Industries, will buy Future Group’s retail and wholesale business including its logistics and warehouses for US$3.4bn. Reliance strengthens leadership position Reliance Retail is India’s largest retail store operator including 621 Reliance Fresh (neighbourhood stores) and Reliance Smart (supermarkets), 52 Reliance Market (cash and carry), 7...

Reliance Retail added 1,533 stores last year, expanding its network to 11,784 across food, fashion and digital sectors. Total sales grew 24.8% The company’s pre-tax earnings grew 55.7% to INR96.5bn (US$1.3bn) year-on-year. March growth for the total company was the weakest due to the COVID-19 lockdown impact. However, grocery stores under the banners Reliance Fresh, Reliance Smart and Relia...

Facebook has invested US$5.7bn for a 9.99% stake in India’s Reliance Jio Platforms, while Amazon has launched ‘Local Shops on Amazon’. Connecting JioMart and WhatsApp Facebook’s investment may connect WhatsApp with JioMart , potentially allowing users to find local stores around them on WhatsApp, connect with store operators and place orders from within the instant messaging service. Lo...

Reliance Industries is testing a new online grocery service called Jiomart, before plans to roll it out more widely. Currently live in Maharashtra The Jiomart website describes the service as 'a new world of grocery shopping' and is currently being tested in Navi Mumbai, Thane and Kalyan. It claims to offer over 50,000 products, free home delivery with no minimum order value, strong promoti...

India’s largest retailer shares strategy to modernise kiranas in India. Planning a retail revolution in India Mr. Mukesh Ambani, Chairman of Reliance Retail, recently shared an ambitious plan to connect the traditional mom-and-pop stores of India to its digital platform. With the aim of transforming the huge traditional segment, this plan involves the creation of a complete ecosystem built ...

Strong fundamentals contribute to sales growth of nearly 48%. Bucking the economic slowndown India’s retail conglomerate Reliance Retail announced sales revenues of INR38,196 crore (US$5.35bn) for the Group’s first financial quarter. Correspondingly, it reported pre-tax profits of INR2,049 crore (US$426.9m), an increase of nearly 70% versus last year. This represents 13 consecutive quart...