“I am pleased to report that we have done extraordinarily well, despite the tough economic conditions. Having achieved critical scale, Reliance Retail is now working on expanding its coverage. This expansion would encompass new cities, new markets and new strategic alliances,” Reliance Industries Chairman and Managing Director, Mukesh Ambani, told shareholders at the company’s 35th Annual General Meeting.
Reliance Retail is an unlisted and wholly-owned subsidiary of energy giant, Reliance Industries Ltd (RIL).
Concurrently, Reliance Retail would focus on continuously innovating to enrich the shopping experience, through customised offers, private labels and ‘value-for-money’ merchandise, he added.
Reliance Retail today serves over five-million customers in 86 cities across 14 states. The fashion-food-gadgets chain operates nearly 1,000 stores.
“We are developing an ecosystem, which will strengthen our offering, while bringing wealth to our stakeholders, primarily marginal farmers, small transporters and vendors,” Ambani said.
Source: Indian Express