Reliance Retail news

The British retailer plans new store openings with local partner Reliance Retail. Expansion across the market's key cities Marks and Spencer plans to between six and eight new stores in India in the next six months, adding to its existing network of 35 stores. M&S has been operating in the market for 12 years, first through franchise, and now in partnership with the retail branch of le...

India's government announced three amendments to FDI multi-brand retail policy, serving to relax the conditions of investment in the market. Three key changes to policy Fifty percent of first $100m invested to be on back-end infrastructure. This amendment puts a $50m cap on the original policy which stated fifty percent of investment in the first three years must be spent on back end i...

The retail arm of India's Reliance Industries Limited (RIL) reported growth of 53% in Q1, with turnover reaching IND 34.7bn (USD 588m). Strong Q1 performance across multi-format portfolio Same store sales growth ranged between 10-22% across Reliance Retail's varied grocery, jewellery, fashion and digital store network. The company operates over 1,500 stores across 134 cities in India ...

India's Supreme Court has rejected a petition against FDI in multi-brand retail, saying that as a policy it did not suffer from any constitutional or statutory infirmity.  "Consumer is king" says court According to reports, the Supreme Court said the decision to allow FDI had a legal basis in a previous act.  It welcomed what it called the focus on benefiting the consumer by " enlarging ...

The retail division of India's leading company Reliance Industries Ltd has announced plans to open five new cash & carry stores in the first quarter of fiscal 2013. First store shows promising results Reliance Retail reported strong nine month ending results, with turnover growing 44% to INR 77.5bn (USD 1.4bn). Positive same store sales growths contributed to this performance, varying a...

India's Reliance Industries Limited announces outstanding results for its retail division with turnover growing over 44% to Rs 7,749 (USD 1.4bn) in the first nine months of the year. Coinciding with this news, the company outlined plans to consolidate its eight retail units. Strengthening its multi-format portfolio The company highlighted a strong start to the festival season and improved pr...

Shareholders have authorised Reliance Fresh to raise its borrowing limit by fifty percent to Rs 15,000 crore with immediate effect. Reliance Fresh is the convenience format of the retail division of leading Indian company Reliance Industries Limited (RIL). It operates a network of over 1,300 stores across eighteen states, with ambitious plans for expansion in 2013. Asserting its commitment to...