Reliance Retail to foray into FMCG business this year led by Isha Ambani

• Reliance Retail reported a ₹2 lakh crore turnover and EBITDA of ₹12,000 crore in FY22.
• With the launch of the FMCG segment, Reliance Retail will compete with giants Hindustan Unilever, Nestle, Dabur, Britannia.
• RIL Chairman Mukesh Ambani announced a succession plan for the group. Akash Ambani leads Reliance Jio, Isha Ambani heads retail business & Anant Ambani heads the new energy business.

Reliance Industries’ (RIL) retail arm will launch a fast-moving consumer goods (FMCG) business this year under the leadership of daughter Isha Ambani.

At RIL’s 45th annual general meeting, Isha Ambani said that the objective of the FMCG business was to develop and deliver high quality, affordable products which solves the daily needs of every Indian.

"I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver products that solve every Indian's daily needs with high quality products at affordable pricing," Isha Ambani said.

With the launch of the FMCG segment, Reliance Retail will be competing with giants like Hindustan Unilever, Nestle, Dabur and Britannia.

“Reliance Retail’s purpose is to serve millions of customers everyday by providing them with unlimited choice, outstanding value propositions, superior quality and unmatched shopping and delivery experience through our physical stores, merchant partner stores, digital and omni commerce platforms,” said RIL Chairman Mukesh Ambani at the AGM.

Commenting on the growth of the retail segment, Isha Ambani mentioned that they have strengthened owned-brands through the launch of 600 new stock keeping units (SKUs) during the year across categories, including TV, home and electronic appliances.

On the grocery segment front, Reliance Retail had launched Freshpik, a gourmet store, in 2021 and also rolled out 7-Eleven for on-the-go customers.

Isha Ambani said that Reliance Retail is looking to partner and integrate with all brands, small producers and MSMEs to enlarge its portfolio of products.

This year, the retail segment served over 200 million registered customers, which is equivalent to the entire population of the UK, France and Italy, she said.

The digital platforms deliver an average daily order of 6 lakh, an increase of 2.5 times over last year. “Reliance Retail’s own brands contribute to over 65% of overall revenues,” Isha said.

In addition, the retail segment will also market products made by tribals and other marginalized communities across the country, she added.

In the last fiscal year, Reliance Retail gave employment to 1.5 lakh employees.

“We built an extensive supply chain network with modular design and best-in-class automation. We generated employment for more than 1.50 lakh during the year, taking our employee base to over 3.60 lakh," Isha Ambani said.

Mukesh Ambani congratulated Isha Ambani and the entire team of retail on achieving ₹2 lakh crore turnover and EBITDA of ₹12,000 crore.

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