{"id":123884,"date":"2024-08-29T15:51:04","date_gmt":"2024-08-29T15:51:04","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/29\/isha-ambani-says-reliance-retail-aims-to-double-business-in-next-3-4-years-times-of-india\/"},"modified":"2024-08-29T15:51:04","modified_gmt":"2024-08-29T15:51:04","slug":"isha-ambani-says-reliance-retail-aims-to-double-business-in-next-3-4-years-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/29\/isha-ambani-says-reliance-retail-aims-to-double-business-in-next-3-4-years-times-of-india\/","title":{"rendered":"Isha Ambani says Reliance Retail aims to double business in next 3-4 years – Times of India"},"content":{"rendered":"
\"Isha<\/div>\n
Reliance Retail, India’s premier retailer, has set an ambitious target to double its business within the next three to four years, Director Isha Ambani<\/a> announced at Reliance Industries’ Annual General Meeting (AGM).
Reliance Retail reported a gross revenue of Rs 3.06 lakh crore ($36.8 billion) for the financial year ending March 31, 2024, marking a 17.8 percent growth compared to the previous year.Isha Ambani expressed confidence in achieving the goal, saying, “With the strong foundation we have built, I am confident that we will achieve our goal of doubling our retail business in the next 3-4 years.”
According to a PTI report, during the RIL AGM, Reliance Chairman Mukesh Ambani<\/a> highlighted Reliance Retail’s global standing, ranking among the top-5 retailers worldwide in terms of store count and among the top-10 in market capitalization.
The company also ranks among the top-30 retailers globally in terms of revenue. Mukesh Ambani further revealed that Reliance Retail opened 1,840 new stores during the year, bringing the total store count to 18,836, with a combined retail space of 79 million square feet.
Also Read | Reliance AGM 2024 Highlights: Mukesh Ambani announces RIL Board of Directors to meet for 1:1 bonus shares; big focus on AI<\/a>
Additionally, the retail business raised Rs 17,814 crore (USD 2.1 billion) at a valuation of USD 100 billion.
Isha Ambani emphasized Reliance Retail’s exceptional performance in various segments, particularly in grocery, where the company has become the largest and one of the fastest-growing retailers, expanding at a rate 2.5 times faster than the rest of the modern trade.
She attributed this growth to the company’s focus on smaller towns, where over two-thirds of their new stores are being established. In many of these markets, Reliance Retail is the first modern retailer to establish a presence.
Regarding Reliance Retail Consumer Brands, Isha Ambani stated that the business is dedicated to creating high-quality products at affordable prices to drive increased consumption across India.
The company has re-launched several popular brands, including Campa, Lotus Chocolates, and Sosyo. The initial success of these brands has given Reliance Retail confidence in its strategic direction.<\/div>\n