Reliance Industries Chairman Mukesh Ambani addresses shareholders on the conglomerate’s performance and future plans as he takes the stage for the 46th Annual General Meeting (AGM).
In less than 3 years, the valuation of Reliance Retail has almost doubled, notwithstanding the intervening Covid-19 pandemic. Based on this valuation, Reliance Retail would have ranked among Top 4 companies in India and Top 10 retailers globally, said Mukesh Ambani.
Reliance Retail Valuation has doubled to Rs 8.28 lakh crore from Rs 4.28 lakh crore in September 2020, says Isha Ambani. Global strategic and marquee investors have shown interest in Reliance Retail. Digital and new commerce sales contributed nearly Rs 50,000 crore in the financial year ending March 2023. Registered customers grew to nearly 25 crore, with over 78 crore footfalls in FY23.
Reliance Retail also opened over 3,300 stores, has 2.5 lakh on-roll employees. It opened 3,300+ new stores last year, taking the total to 18,040, covering 6.56 cr sq.ft. Two-thirds of these stores are in Tier II, III and smaller towns, which is a testament to commitment of making retail inclusive, said, Isha Ambani, Director, Reliance Retail.
Launch of Jiomart on WhatsApp saw 9X growth in consumers last year, says Isha Ambani
Here’s more.
New Commerce business grew phenomenally on the back of our omni-channel capabilities. The launch of JioMart on WhatsApp has been a phenomenal success with 9X growth of JioMart customers on WhatsApp since launch in 2022: Isha Ambani
JioMart on-boarded 25,000+ artisans, weavers and micro-entrepreneurs. 1.6 lakh products of artisans from 150+ cities are available on our platforms. We work with 2500+ handloom weavers, covering 50 craft clusters: Isha Ambani