Reliance Retail

Last updated

Reliance Retail
Company type Subsidiary
ISIN INE002A01018
Industry Retail
Founded2006;18 years ago (2006)
Founder Mukesh Ambani
Headquarters Mumbai, Maharashtra,
India
Number of locations
18,836 (2024) [1]
Area served
India
Key people
Services
RevenueIncrease2.svg₹306,786 crore (US$38 billion) (2024) [2]
Increase2.svg₹23,040 crore (US$2.9 billion) (2024) [2]
Increase2.svg₹11,101 crore (US$1.4 billion) (2024) [2]
Total assets Increase2.svg₹168,311 crore (US$21 billion) (2023) [3]
Owner
    • Reliance Industries (85.12%)
    • Vanishree Commercials (4.7%)
    • Infotel Infocomm (0.6%)
    • Sovereign wealth funds (5.86)
    • Private equity firms (4.32%)
Number of employees
245,581 (2023) [4]
Parent Reliance Industries
Subsidiaries
Website relianceretail.com OOjs UI icon edit-ltr-progressive.svg

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. [5] Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns. [1] Apart from physical stores, the company also sells products on its e-commerce channels.

Contents

As of August 2023, the company is valued at $100 billion. [6] [7]

History

In August 2021, Reliance Retail announced that it would acquire the retail, wholesale, logistics and warehousing business of Future Group for ₹24,713 crore (US$3.34 billion). [8] However, the deal was called off in April 2022 after a lengthy legal dispute between Future Group and Amazon. [9]

In September 2020, it was announced that American investment firm Silver Lake has bought 1.75% stake in Reliance Retail for ₹7,500 crore (US$940 million) valuing the business at ₹4.28 trillion (US$54 billion). [10] On 23 September, it was announced that KKR has bought 1.28% stake for ₹5,500 crore valuing the venture at ₹4.28 trillion or $58 billion. [11]

In October 2020, Singapore's GIC bought a 1.22% stake for $752 million, while TPG acquired a 0.41% stake for $250 million giving Reliance Retail a pre-money valuation of $58.5 billion. [12]

On 7 October 2021, the company announced its partnership with 7-Eleven to open its stores in India. [13] The announcement came a day after Future Group announced the end of its partnership with 7-Eleven, citing the inability to meet the target of opening stores and payment of franchisee fees. The first 7-Eleven in India opened in Mumbai. [14]

On 6 January 2022, Reliance Retail invested $200 million in Dunzo for a 25.8% stake. [15]

In 2022, soft drink brand Campa Cola was acquired by Reliance Industries for ₹22 crores. In March 2023, Reliance Consumer Products (RCPL), the fast-moving consumer goods arm and subsidiary of Reliance Retail Ventures (RRVL), announced the relaunch of Campa Cola in three variants (cola, orange and lemon) at select stores. [16]

In February 2023, Reliance Retail began accepting India's central bank digital currency (CBDC), the Digital Rupee. [17]

In August 2023, the Qatar Investment Authority invested $1 billion in Reliance Retail for a 0.99% stake in the company at a $100 billion valuation. [6] In October 2023, the Abu Dhabi Investment Authority acquired a 0.59% stake in the company with an investment of nearly $600 million. [18]

In May 2024, it was announced Reliance Retail plans to sell Jio Leasing Services Ltd (JLSL), a subsidiary of Jio Financial Services, customer premises equipment, devices and telecom equipment worth $4.32 billion. [19]

Financials

Reliance Retail had a turnover of ₹337 billion in the financial year 2016–17. Reliance Retail announced revenues of ₹450 billion for the nine months ended December 2017 for financial year 2017–18, showing over a 90% jump from the corresponding previous period. The company also reported a profit of ₹7 billion for the period. [20] [21] [22]

Subsidiaries and divisions

Reliance Mall, Delhi Reliance Mall, Vikaspuri 01.jpg
Reliance Mall, Delhi
Reliance Mall, Nizamabad Reliance Mall Nizamabad.jpg
Reliance Mall, Nizamabad
Inside a Reliance Smart convenience store in Ahmedabad Reliance Mart, ISCON Mall, Ahmedabad.jpg
Inside a Reliance Smart convenience store in Ahmedabad
Reliance Trends Woman showroom in Kadappakada, Oct 2018.jpg
A Reliance Trends Woman store in Kollam.
A Hamleys store in London Hamleys.jpg
A Hamleys store in London
Metro Cash & Carry, Kolkata Metro Cash & Carry India Private Limited - Kalikapur - Eastern Metropolitan Bypass - Kolkata 2013-09-18 0248.JPG
Metro Cash & Carry, Kolkata
Reliance Centro, Pune Reliance Centro Mall in Pune.jpg
Reliance Centro, Pune

There are over 45 subsidiaries and divisions of Reliance Retail. [23]

Major divisions

No.NameNote
1Reliance FreshRetail outlets of fruits, vegetables and groceries. [24]
2Reliance Smart/Smart PointReliance Smart offers fresh produce, bakery, dairy products, home, and personal care products, general merchandise, fruits, vegetables, and groceries. [25]
3 Reliance Digital Consumer electronics retail stores. It had 689 stores in October 2014. [26]
4Jio StoresSmall-format connectivity retailer which sells Jio connections, phones and accessories. It had over 7,900 stores as of 2022. [27]
5Reliance JewelsJewelry retail; it had 77 showrooms in 2018. [28]
6Reliance TrendsApparel and clothing. It had 557 stores in 2019. [29]
7Reliance FootprintFootwear retail format which was launched in November 2007. [30]
8AJIOE-commerce, fashion shopping website, officially launched at the Lakme Fashion Week SS16. [31]
9 JioMart JioMart is the e-commerce venture of Reliance Retail that provides grocery delivery. It operates in 200 cities in India and was started as a joint venture between Reliance Retail and Jio Platforms. [32]
10AzorteIn 2022, Reliance Retail launched fashion stores under Azorte brand, under which it retails footwear, fashion accessories, home and beauty products. [33]
11TiraTira is an omnichannel beauty retailer launched in April 2023. [34]

Acquisitions

No.NameNote
1 Hamleys Hamleys, one of the oldest and largest toy retailers in the world, was acquired by Reliance Retail in 2019 for £67.96 million. [35]
2Shri Kannan Departmental StoreShri Kannan Departmental Store is a retail store chain that sells fruits, vegetables, dairy, staples, home, and personal care, and general merchandise. It operates 29 stores in Coimbatore and was acquired by Reliance Retail in 2020 for ₹152.5 crore. [36]
3NetmedsNetmeds is a licensed e-pharmacy based in Chennai. In 2020, Reliance Retail acquired a 60% stake in Netmeds' parent Vitalic for approximately ₹620 crore. [37]
4 Urban Ladder Urban Ladder is an omnichannel furniture and decor retailer based out of Bangalore, India. In 2020, Reliance Retail acquired a 96% stake in Urban Ladder for ₹182 crore. [38] [39]
5AddverbAddverb is a Noida-based robotics company in which Reliance Retail bought a 55% stake for $132 million in 2021. [40]
6AmanteAmante is a retailer and wholesale distributor of lingerie in India and Sri Lanka, acquired by Reliance Retail in 2021. [41]
7ZivameBangalore-based Zivame operates an online lingerie store for women. It has also ventured into other segments such as activewear, sleepwear and shapewear. According to Zivame's website, it has 30-plus retail stores and a presence in more than 800 partner stores across the country. In 2021, Reliance Retail acquired an 85% stake in the company for ₹1,200 crore. [42]
8CloviaClovia is an Indian innerwear and loungewear company. In 2022, Reliance Retail acquired a 89% stake in the company for $125 million. [43]
9 Justdial In 2021, Reliance Retail acquired a 66% stake in local search company Justdial for ₹5,710 crore (US$770.58 million). [44]
10MilkbasketMilkbasket is a subscription-based daily micro-delivery service. In October 2021, Reliance Retail Ventures acquired a 96.49% stake in Milkbasket for $40 million. [45] [46]
11 Metro Cash & Carry India In March 2023, Reliance Retail completed the acquisition of Metro Cash & Carry India for a cash consideration of ₹2,850 crore (US$360 million). After the acquisition, Reliance Retail got access of over 3 million B2B customers of Metro Cash & Carry including 1 million frequent buyers. [47]
12V-RetailIn 2023, Reliance Retail acquired V-Retail, a footwear and apparel retail company which operated 32 stores under the name of Centro across Telangana, Andhra Pradesh and Karnataka. [48]

Products and services

Private label products

Although Reliance Retail's grocery businesses primarily markets products of third party FMCG players, they also sell inhouse brands including: Best Farms, Good Life, Enzo, Mopz, Expelz and Home One. [49] [50] [51]

Related Research Articles

<span class="mw-page-title-main">Reliance Industries</span> Indian multinational conglomerate

Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. The company has relatively little free cash flow and high corporate debt.

<span class="mw-page-title-main">Reliance Communications</span> Indian telecommunications company

Reliance Communications Limited (RCOM) was an Indian mobile network provider headquartered in Navi Mumbai, Maharashtra that offered voice and 2G and 3G and 4G data services. In February 2019, the company filed for bankruptcy as it was unable to sell assets to repay its debt. It has an estimated debt of ₹500 billion against assets worth ₹180 billion.

<span class="mw-page-title-main">Mukesh Ambani</span> Indian billionaire (born 1957)

Mukesh Dhirubhai Ambani is an Indian businessman and the chairman and managing director of Reliance Industries. With an estimated net worth of $113.7 billion as of March 2024, he is the richest person in Asia and 11th richest in the world. Sometimes characterized as a plutocrat, he has attracted both fame and notoriety for reports of market manipulation, political corruption, cronyism, and exploitation.

<span class="mw-page-title-main">Campa Cola</span> Soft drink brand in India

Campa Cola is a soft drink brand in India. It was a market leader in the Indian soft drink market in the 1970s and 1980s in most regions of India until the advent of the foreign players Pepsi and Coca-Cola after the liberalisation policy of the P. V. Narasimha Rao government in 1991.

Network18 Media & Investments Limited, commonly referred to as the Network18 Group and sometimes as the Network18–Eenadu Group, is an Indian media conglomerate owned by the energy giant Reliance Industries, headed by billionaire Mukesh Ambani. Rahul Joshi is the managing director, chief executive officer and group editor-in-chief of Network18, and Adil Zainulbhai is the chairman of its board of directors.

Viacom18 Media Private Limited is an Indian media company based in Mumbai, India. Founded in 2007 by the MTV Networks Europe division, it later became a joint venture between TV18 and Viacom in 2014, with TV18 becoming the majority shareholder in the company since April 2023, with Bodhi Tree Systems owning minority stake. The company owns and operates various channels, as well as content production studios in India.

Future Group is an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. The company is known in Indian retail and fashion sectors, operating supermarket chains Big Bazaar and Food Bazaar, lifestyle stores Brand Factory and Central, integrated foods and FMCG manufacturing sectors. Future Retail Limited and Future Lifestyle Fashions Limited are two operating companies whose assets are among the top retail companies listed in BSE, with market capitalization among the highest on the National Stock Exchange of India.

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

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DEN Networks Limited is an Indian cable television and broadband service provider company in India. It is owned by Sameer Manchanda and was acquired by Reliance Industries in 2018 along with Hathway. In 2003, it stood as one of the three major cable distributors in India alongside Hathway and InCablenet.

OYO Rooms, also known as OYO Hotels & Homes, is an Indian multinational hospitality chain of leased and franchised hotels, homes, and living spaces. Founded in 2012 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels. As of January 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries.

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<span class="mw-page-title-main">Nita Ambani</span> Indian philanthropist (born 1963)

Nita Ambani is an Indian philanthropist and businesswoman. She is the chairperson and founder of the Reliance Foundation, Dhirubhai Ambani International School and a director of Reliance Industries. She is married to Reliance Industries chairman and managing director Mukesh Ambani. With a family fortune estimated in excess of US$117.8 billion, the Ambanis are among the richest in the world. She is also an art collector and the owner of the Indian Premier League cricket team Mumbai Indians.

Radhakishan Shivkishan Damani is an Indian billionaire businessman and investor, He is the founder and chairman of retail chain Avenue Supermarts Limited. Damani is often referred to as the Retail King of India.

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Swiggy is an Indian online food ordering and delivery platform. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023. Besides food delivery, the platform also provides on-demand grocery deliveries under the name Instamart, and a same-day package delivery service called Swiggy Genie.

Lenskart is an Indian multinational optical prescription eyewear retail chain, based in Gurgaon. As of March 2023, Lenskart has more than 2,000 retail stores, three-fourths of which are in India. Its manufacturing facility in New Delhi manufactures 3 lakh glasses a month. Lenskart is building an automated factory in Bhiwadi, Rajasthan, with an annual production capacity of 5 crore glasses.

<span class="mw-page-title-main">JioMart</span> Indian e-commerce company

JioMart is an Indian e-commerce company, headquartered in Navi Mumbai, Maharashtra, India, that started as a joint venture between Reliance Retail and Jio Platforms, both in turn being subsidiaries of Reliance Industries. The company initially focused on online groceries sales before expanding into other product categories such as fashion, home essentials, electronics, and lifestyle products.

<span class="mw-page-title-main">Jio Platforms</span> Indian multinational technology company

Jio Platforms is an Indian multinational technology company, headquartered in Mumbai, Maharashtra, India. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator, Jio, and other digital businesses of Reliance.

<span class="mw-page-title-main">JioCinema</span> Indian video streaming service

JioCinema is an Indian over-the-top media streaming service owned by Viacom18, a joint venture of Reliance Industries and Paramount Global. It offers free advertising- and subscription-based video on demand and live streaming content.

<span class="mw-page-title-main">Jio Financial Services</span> Indian Financial Company

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