Reliance Industries’ recently held 41st annual general meeting in Mumbai saw some major announcements by Chairman, Reliance Industries, Mukesh Ambani. Chairing the occasion, he said: “Reliance Retail is going to scale up its retail presence across its formats from 200 cities to over 900 cities by next year and will also launch a B2B digital marketplace to enable small retailers to transact online.”
With 2,600 stores in 200 cities across 20 states, Reliance Retail has one of the fastest moving network of stores. “Reliance Retail is setting a new global benchmark in the largest number of store openings in a course of one year. We have added 930 stores in the last year. The physical and e-commerce retail business e market is upsurging between 30-50 per cent year on year and that has helped us sustain our leadership in retail,” Ambani added.
Reliance, which already runs ‘Reliance Market’ B2B stores, now has plans to open a B2B digital marketplace. “We are rolling out the Reliance Digital Marketplace platform to enable millions of small retailers and kiranas to transact online that provide them enhanced supplier base, product range, better supply chain productivity, digital payment capability, connectivity to customers and credit capability,” Ambani informed.
With the advanced Internet infrastructure built by Reliance Jio and a robust physical retail business built by Reliance Retail, the company will create a differentiated e-commerce model for India. He added, “This year will bring about a disruptive shopping experience for consumers as they embrace technology and have access to anytime, anywhere shopping.”