Reliance Retail CEO Isha Ambani has set a new goal for the company.
Mukesh Ambani’s darling Isha Ambani has set a new target for her retail business. Addressing investors at the 47th Annual General Meeting of Reliance Industries, Isha Ambani said that she aims to double the company’s business in the next three to four years. At present, Reliance is one of the top 10 companies in the world in terms of retail market capitalization. While in terms of revenue, it is included among the top 30 retail companies in the world. Let us also tell you what insights Reliance Retail chief Isha Ambani has given about the retail business.
This is Isha Ambani’s goal
Isha Ambani, head of the country’s leading retailer Reliance Retail, said on the occasion of Reliance Industries’ Annual General Meeting on Thursday that the company is aiming to double its business in the next three to four years. Reliance Retail posted a gross revenue of Rs 3.06 lakh crore in the financial year 2023-24, up 17.8 per cent from the previous year. Addressing the Annual General Meeting, Isha, head of Reliance Industries’ retail unit, said that based on the strong foundation we have built, I am confident that we will achieve the target of doubling our retail business in the next three to four years.
Included among the top 10 retail companies in the world
On the other hand, Reliance Chairman Mukesh Ambani addressing the shareholders said that in terms of number of retail stores, Reliance Retail has joined the top five retail companies in the world. In terms of market capitalisation, Reliance Retail is one of the top 10 retail companies globally while in terms of revenue it is one of the top 30 companies. Mukesh Ambani said that we have opened 1,840 new stores this year taking the total number of our stores to 18,836. The retail business raised Rs 17,814 crore at a valuation of $100 billion.
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Opening stores in small towns
Speaking on the occasion, Isha said that Reliance Retail has emerged as one of the fastest growing retailers, growing at 2.5 times the growth rate of the rest of the business. Isha said that our growth is driven by our focus on smaller towns, where more than two-thirds of our new stores are opening. We are the first modern retailer to establish our presence in many of these markets.
On Reliance Retail Consumer Brands, Isha Ambani said the company is focusing on creating high-quality products at affordable prices to drive consumption across the country. She said we have reintroduced many popular brands like Campa, Lotus Chocolates and Sosio. The initial success of all these brands gives us confidence that we are on the right track.
