Reliance Retail is an Indian

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and th ...

company and a subsidiary of

Reliance Industries Reliance Industries Limited is an Indian multinational conglomerate company, headquartered in Mumbai. It has diverse businesses including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is ...

. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. Apart from physical outlets, the company also sells products on its e-commerce channels. It has 280,000 employees at 16,700 store locations.

History

In September 2020, it was announced that American investment firm

Silver Lake Silver is a chemical element with the symbol Ag (from the Latin ', derived from the Proto-Indo-European ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical ...

has bought 1.75% stake in Reliance Retail for valuing the business at . On 23 September, it was announced that

KKR KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strateg ...

has bought 1.28% stake for ₹5,500 crore valuing the venture at ₹4.28 trillion or $58 billion. In October 2020, Singapore's

GIC Gic is a village in Veszprém County, Hungary. External links Street map (Hungarian) Populated places in Veszprém County Ghyczy family {{Veszprem-geo-stub ...

bought a 1.22% stake for $752 million, while TPG acquired a 0.41% stake for $250 million giving Reliance Retail a pre-money valuation of $58.5 billion. In 2022, Reliance Retail launched fashion stores under Azorte brand, under which it retails footwear, fashion accessories, home and beauty products.

Financials

Reliance Retail had a turnover of ₹337 billion in the financial year 2016–17. Reliance Retail announced revenues of ₹450 billion for the nine months ended December 2017 for financial year 2017–18, showing over a 90% jump from the corresponding previous period. The company also reported a profit of ₹7 billion for the period. In financial year 2019–2020, the company reported revenue of ₹1.62 trillion and EBITDA of 9,654 crore growing 55.7% year over year.

Acquisitions and partnerships

On 29 August 2020, Reliance Retail announced that it is acquiring the retail, wholesale, logistics and warehousing business from the Future Group for adding 15

lakh A lakh (; abbreviated L; sometimes written lac) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation: 105). In the Indian 2,2,3 convention of digit grouping, it is written as 1,00,000. For ...

square meters of retail space to the company. On 15 November 2020, Reliance Retail announced that it had acquired a majority ownership of the furniture and decorating company Urban Ladder. On 7 October 2021, the company announced its partnership with

7-Eleven 7-Eleven, Inc., stylized as 7-ELEVE, is a multinational chain of retail convenience stores, headquartered in Dallas, Texas. The chain was founded in 1927 as an ice house storefront in Dallas. It was named Tote'm Stores between 1928 and 1946. ...

to open its stores in

India India, officially the Republic of India ( Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the ...

. The announcement came a day after Future Group announced the end of its partnership with 7-Eleven, citing the inability to meet the target of opening stores and payment of franchisee fees. The first 7-Eleven in India opened in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the secon ...

. On 6 January 2022, Reliance Retail invested $200 million in Dunzo for 25.8% stake. On December 2022，Reliance Retail signed definitive agreements to acquire 100% equity stake in METRO Cash & Carry India Pvt Ltd. (‘METRO India’) for a total cash consideration of ₹2,850 crore, subject to closing adjustments.

Subsidiaries and divisions

There are over 45 subsidiaries and divisions of Reliance Retail. Following is a list of major divisions:

Products and services

Private label products

Although Reliance Retail's grocery businesses primarily markets products of third party FMCG players, they also sell inhouse brands including: Best Farms, Good Life, Enzo, Mopz, Expelz and Home One.

References

External links

* {{Reliance Group Reliance Industries subsidiaries Retail companies of India Retail companies established in 2006 Companies based in Mumbai Clothing brands of India Reliance Retail Indian companies established in 2006 2006 establishments in Maharashtra