Reliance Retail Aims to Double Business in 3-4 Years, Says Isha Ambani

Reliance Retail, India’s largest retailer, is set to aggressively expand its footprint, with plans to double its business in the next three to four years, according to Isha Ambani, executive director of Reliance Retail. Speaking at the company’s annual general meeting, Ambani expressed confidence in achieving this ambitious target.

“Given the strong foundation we’ve built, I am confident that we will meet our goal of doubling our retail business within the next 3 to 4 years,” Ambani declared.

For the fiscal year 2024, Reliance Retail reported gross revenues of Rs 3,06,848 crore, marking a 17.8% increase from the previous year. The company is also eyeing the luxury jewellery market, with plans to offer a high-end, design-focused experience. Additionally, Reliance Retail is exploring opportunities in fashion jewellery and accessories to further diversify its offerings.

In the beauty sector, Reliance Retail is expanding its presence through multiple channels, including Tira, Sephora, Kiko Milano, and Blushlace. The company is enhancing its beauty and personal care range across existing grocery, fashion, and pharma formats, both online and offline, and is investing in building its own brand portfolio through Insight Cosmetics.

Ambani highlighted the company’s investments in various brands such as Kalanikethan, Zivame, Clovia, Amante, and Urban Ladder, which have strengthened its position in these categories. Notably, brands like Avaasa, Netplay, and DNMX have each surpassed Rs 2,000 crore in annual sales, while John Players and Teamspirit have exceeded Rs 1,000 crore.

On the grocery front, Reliance Retail continues to lead as the largest and one of the fastest-growing retailers, expanding at 2.5 times the rate of other modern trade players. Ambani noted that the company’s growth is fueled by its focus on smaller towns, where two-thirds of new stores are opening. In larger cities, premium formats like Fresh Signature and Freshpik are being expanded to enhance the consumer experience.

Mukesh Ambani, chairman and managing director of Reliance Industries, emphasized that Reliance Retail is ranked among the top global retailers in various categories: top five in store count, top ten in market capitalization, top twenty in employee numbers, and top thirty in revenue. He praised the company’s unique operating model, which includes around 19,000 stores covering 80 million sq. ft. across over 7,000 cities, a network of 4 million kirana partners, and extensive digital platforms.

“Our extensive supply chain, with over 32 million sq. ft. of warehouse space, supports our nationwide operations and underscores our competitive advantage and leadership in the retail sector,” Mukesh Ambani added.