Reliance Retail news

New ecommerce platform created with help of Reliance Jio Infocomm. State of Gujarat first to trial new project Reliance Retail, part of the Reliance Industries conglomerate, has partnered with Reliance Jio Infocomm to announce the creation of a new ecommerce platform. The new platform will be optimised for use on the JioPhone, a popular mobile handset that was introduced by Reliance Jio in ...

Another giant ecommerce player may enter Indian market. Investment of at least US$5 bn from Alibaba Talks have begun between Alibaba and Reliance Retail about the possibility of creating a mega retail joint venture. Jack Ma, Alibaba’s executive chairman and Mukesh Ambani, Reliance Industries Ltd. chairman met recently to discuss plans to create an omnichannel retail entity. If it proceed...

Revenues have more than doubled from previous year. Positive performance driven by increase in store network For the financial year that ended in March 2018, Reliance Retail has reported revenues of US$10.37bn, more than double from fiscal year 2016/7. It now has the honour of being the first retailer in India to cross the US$10bn mark in revenues. The Indian conglomerate has also reported ...

India's largest retailer, Reliance Retail, is planning to add more stores. Stepping up expansion plans Reliance Retail went through a round of consolidation last year, closing 60 outlets under the Fresh banner, its convenience store format. It seems to be in expansion mode this year. The retailer plans to open 200 grocery stores (under Fresh and Smart banners), 300 wholesale outlets (under ...

Reliance Fresh, the convenience store format of Reliance Retail, has closed 60 stores over the last year to cut losses. Loss-making stores facing higher rental Reliance Fresh is the first format launched by the company in 2006. The convenience stores sell food and grocery, contributing to approximately 50% of Reliance Retail’s revenue in FY2016. There are currently over 500 stores over ...

Reliance Retail, one of India’s largest retailers, has reported a strong set of results for the first quarter in FY2016-2016. Robust growth in revenue and profit The revenues of Reliance Retail, including petroleum sales, have increased 45.8% to INR66.7bn (US$0.9bn) in Q1, compared to INR 45.7bn (US$0.68bn) in the same quarter last year. Meanwhile, its pre-tax profit has seen an uplift...

The group that owns the Hypercity and Shoppers Stop retail banners in India has announced plans to invest Rs5.25bn (US$80m) over the next three years. Up to 30 stores to open as part of the development The group will use the money to expand its footprint, with nine new Hypercity hypermarkets and 18-21 Shoppers Stop department stores due to open over the next three years. As well as open ...

The Indian government has decided to maintain the current policy on foreign direct investment (FDI), whereby foreign retailers can hold a majority stake in a multi-brand retail company. Greater clarity for offline FDI with e-commerce to be reviewed The decision to maintain the current ruling is a surprise given that the BJP government, which was elected last year, had previously announce...

Reliance Retail has launched a new online grocery service in Mumbai. Trial area focused on affluent Mumbai suburbs The service, operated by the retailer's Reliance Fresh unit, will see it deliver groceries to customers homes in Navi Mumbai, South Mumbai and Thane. RelianceFreshDirect.com is part of the retailers first exploration into the world of online grocery shopping and will fulfil the...

Reliance Retail is planning on changing its financing strategy, so that rather than rely on support from parent company Reliance Industries Ltd, it will support itself for the first time. Greater control of its own direction Reliance Retail plans to raise Rs 5,000 crore (US$82.5mn) from banks and the capital markets. Having recently turned profitable and continuing to grow rapidly, the reta...