President of Reliance Industries Limited (RIL), Mukesh Ambani During the 44th Annual General Meeting, the company said that the company’s retail business is on a hyper-growth trajectory and will provide one million jobs in the near future.
“Even in these challenging times, I am personally proud to inform you that Reliance Retail has not only protected jobs but also created over 65,000 new jobs. Reliance Retail currently employs over 2 lakh people which makes us one of the largest employers in the country. In the next three years, we will create jobs for over one million people and enable livelihoods for many more,” Mukesh Ambani said.
RIL added 1,500 new stores, which is one of the largest retail expansions by any retailer during the period, taking the number of stores to 12,711.
“RIL’s apparel business sold around five lakh units per day and over 18 crore units during the year. “This is equivalent to dressing the entire population of Britain, Germany and Spain once,” Ambani said.
Ajio has emerged as one of the leading digital commerce platforms for fashion and lifestyle with a portfolio of over 2,000 labels and brands and a catalog of over 5 lakh options. RIL Chairman said, “Innovation driven Ajio now contributes more than 25 per cent to our apparel business.
“We further strengthened our position in consumer electronics and sold 45 million units of electronics last year which translates to over 120,000 units per day,” he said.
As India’s largest kirana retailer, Reliance Retail sold over one billion units of kirana or around 3 million units per day. JioMart registered over 6.5 lakh peak orders in a single day.
In the last one year, over 3 lakh merchant or shop keeper partners across 150 cities have been enabled and empowered to transform their businesses both physically and digitally.
“Our promise to them is simple: ‘Customer Yours, Support Us’ – We support you, so you can better serve your customers.” A testament to our promise is that we have seen a 3x increase in grocery orders and a 2x increase in orders. Frequency,” Mukesh Ambani said.
To expand the retail business, RIL will focus on the following five key initiatives along with its commitment to be carbon free. First, further investment in research, design and product development capabilities.
Second, RIL will further strengthen its sourcing ecosystem by working closely with producers, MSMEs, service providers, local and international brand companies. Third, RIL is investing in building state-of-the-art supply chain infrastructure across India, connecting all major sourcing and consumption locations. Ambani announced, “An automated, modular, reliable and scalable warehousing and logistics ecosystem will enable us to deliver products anywhere across the country in the shortest possible time.”
Fourth, the group will focus on growing its store footprint manifold this year with co-located delivery hubs over the next few years.
And fifth, RIL will continue to acquire businesses to enhance the offering and experience to customers, accelerate omni-channel capabilities, enhance operational efficiencies and strengthen the talent pool. Recent acquisitions include leading physical/digital commerce platforms such as Netmeds, Urban Ladder and Jivam.
“Retail is on a high growth trajectory to grow at least 3x in the next 3-5 years,” he added.
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