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  • Reliance Retail opens first freestanding GAP store in Mumbai

    Reliance Retail opens first freestanding GAP store in Mumbai

    In this second phase, after opening over 50 Gap shop-in-shops since last year, Reliance Retail will help open a series of freestanding Gap stores across the country in the coming months.

    New Delhi: Reliance Retail, on Friday, has opened the first freestanding Gap store in India at Mumbai’s infiniti Mall, Malad, the company announced in a media release. This launch is in line with the long-terme partnership of the two firms as Reliance Retail is the official retailer for GAP across all channels in India.

    In this second phase, after opening over 50 GAP shop-in-shops since last year, Reliance Retail will help open a series of freestanding GAP stores across the country in the coming months.

    Akhilesh Prasad, President and CEO, Fashion & Lifestyle, Reliance Retail Limited, said: “While the opening of freestanding stores is an important driver of GAP’s long-term growth plan in India, it also gives us yet another opportunity to bring world-class brands and a differentiated shopping experience to our discerning Indian consumers.

    Currently, Reliance Retail is India’s largest retailer with established competencies in operating robust omnichannel retail networks and scaling local manufacturing and driving sourcing efficiencies. Through this partnership, Reliance Retail will bring Gap’s shopping experience to customers across India through a mix of exclusive brand stores, multi-brand stores, multi-brand store expressions and digital commerce platforms. The global lifestyle retailer Gap, founded in San Francisco in 1969, said it has a strong vision of doing more than selling clothes.
    Adrienne Gernand, Managing Director of International, Global Licensing and Wholesale at Gap Inc said, “Growing Gap’s brick-and-mortar business through the launch of freestanding stores and multi-brand store expressions enables us to increase accessibility for Indian customers and meet them where they are shopping.”

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  • Reliance Retail is 94th on Deloitte’s top retailer list

    Reliance Retail is 94th on Deloitte’s top retailer list

    The global retailing industry saw a record growth in revenue in 2017 with the top 250 companies increasing their revenue by over 83 percent, according to a latest report by a professional services multinational that said Reliance Retail was the only Indian company in the list. The Deloitte’s ‘Global Powers of Retailing 2019’ said that with the fast moving consumer goods (FMCG) being the main growth drive for the top 250 global retailers, the retail revenue increased by over 83.2 percent generating aggregate revenue of US$ 4.53 trillion in fiscal 2017.

    “Despite the deceleration in the global economy, the consumer and investor sentiment continues to remain positive.

    “Our global reports highlight that of the top 10 companies on the top 250 list, eight were FMCG companies and that sector has been a strong reason for the India retail story,” Deloitte India Partner Anil Talreja said.

    According to the report, Europe had the highest number of top 250 retailers.

    Companies such as Amazon and Reliance doing exceptionally well by climbing 2 and 95 spots, respectively, on the back of exceptional retail growth.

    Reliance Retail as the only Indian company in the top 250 list came in at the 94th position and was also placed sixth among the 50 fastest growing retail companies.

    In fiscal 2017, the company doubled its annual revenue to $10,649 million over the previous year.

    Walmart retained its position as the world’s largest retailer with an improvement in retail revenue growth by three per cent in 2017. Its major growth drivers were the acquisition of e-commerce firms such as Jet.com, ModCloth, Shoes.com, Moosejaw, and Bonobos, besides greater investments in store remodelling and investment in store wages.

    Walmart has recently acquired Indian e-commerce major Flipkart.

    The Deloitte survey reported sluggish growth in Europe, China and Japan, but said retailers continued to grow as a result of increased merger and acquisition (M&A) activity, new store openings, and robust e-commerce activity.

    “The global economy is currently at a turning point. Until early 2018, the global economy displayed strong growth.

    “With inflation accelerating in major markets, governments making shifts in monetary and fiscal policies, and most of the emerging markets experiencing significant currency depreciation the global economy will slow down in the near future,” Deloitte Global Chief Economist Ira Kalishsaid in the report.

    “For retailers, this change will mean slower consumer spending growth, higher consumer prices, and disrupted global supply chains,” he added.

  • Reliance Retail Q3 revenue up 89.3 percent

    Reliance Retail Q3 revenue up 89.3 percent

    Healthy festive season sales and new store openings led Reliance Industries’ organised retail business — Reliance Retail — to report a 89.3 per cent rise in its revenue for the third quarter of 2018-19. The firm’s revenue figure was disclosed under the Reliance Industries (RIL)’s third quarter results, on Thursday. Accordingly, the firm’s revenue for 3Q FY19 grew by 89.3 per cent to Rs 35,577 crore from Rs 18,798 crore reported for the corresponding quarter previous year.

    The company’s Earnings Before Interest and Taxes (EBIT) rose 210.5 percent on a year-on-year (Y-o-Y) basis to Rs 1,512 crore from Rs 487 crore demonstrating strong operating profit during the quarter.

    In addition, EBIT margin for the segment improved by 160 basis points to 4.2 percent reflecting scale benefits. Retail now has 9,907 stores with a reach across more than 6,400 towns and cities

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  • Reliance retail business thrives

    Reliance retail business thrives

    Indian retailer Reliance Industries has reported a 50 per cent growth in sales in its consumer electronics category for the quarter to December 31.

    Reliance Retail also consolidated its leadership in the grocery category, optimising its network to enhance profitability. Several private-label products were launched in the grocery and general merchandise categories during the quarter. The contribution of private-label sales to overall sales increased to 14.6 per cent from 8.6 per cent in the same period the previous year.

    There are now more than 2 million registered members across 37 countries for Reliance Mart stores. These 1537 outlets specialise in consumer electronics. Strong year-on-year growth in this category was helped by Digital Express Mini rapidly scaling up during the quarter to reach more than 1250 outlets across the country in a short time since launch.

    Also delivering a strong performance, the fashion and lifestyle category was 16 stores opened byReliance Trends during the quarter.

    A Reliance Retail joint venture with Marks & Spencer continued to grow with new store openings, whileReliance Brands launched Dutch lingerie brand Hunkemöller, and also opened the first airport store in India for UK games and toys retailer Hamleys, in Delhi.

    Initiatives encompassing fashion and lifestyle e-commerce are also proceeding through beta testing. The development of a marketplace platform and distribution ecosystem for 4G devices are on track and being rolled out. It will be the largest distribution reach for devices in India, says the company.

    Meanwhile, the company is training 4G sales specialists while integrating supply chain and service centres. Reliance Retail also launched its own brand of 4G LTE smartphones, under the brand LYF, during the quarter.

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  • Asics India goes it alone

    Asics India goes it alone

    Japanese sports shoe brand Asics has opened its first company owned store in India.

    The 670 sqft outlet has opened in a shopping centre in south Delhi.

    It marks the end of a five year partnership with local conglomerate Reliance Retail.

    “We had a five-year agreement with Reliance Retail, and we did not want to renew the alliance,” Rajat Khurana, director of Asics India said in an interview.

    “The market has matured, and we have a much better understanding about the Indian sports shoes market, which is worth about $1 billion.”

    Now the brand will operate as a wholesaler, opening mono brand stores across India through franchise partners. It will manage the franchise business directly rather than partner with a local master franchisee.

    “Over the next 18 months, we will open exclusive outlets across the top 10 Indian cities, with one or two outlets in each city. Over the next three years, sales should treble,” said Khurana.

    Asics is the fourth largest sports goods manufacturer in the world and is currently sold in more than 150 countries.

    Asics branded products will continue to be available through multi-brand stores in India, including reliance Retail’s network.

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  • Reliance Retail to launch B2B e-marketplace

    Reliance Retail to launch B2B e-marketplace

    Reliance Retail would launch a B2B digital market to allow small retailers to transact on-line, chairman Mukesh Ambani stated at Reliance Industries’ 41st annual common assembly at this time.

    “We’re rolling out the Reliance Digital Market platform to allow hundreds of thousands of small retailers and supply them with an enhanced provider base and product vary, higher provide chain productiveness, digital cost functionality, connectivity to clients and credit score functionality,” Ambani stated. Reliance already runs ‘Reliance Market’ B2B shops.

    Ambani stated the style and way of life codecs of Reliance Retail would launch their e-commerce portals by the top of the yr. Reliance Retail runs trend and way of life codecs corresponding to jewelry chain Reliance Jewels, durables and electronics chain Reliance Digital, attire chain Reliance Developments, and footwear chain Reliance Footprint. After a pilot challenge in Mumbai, Reliance’ Retail’s grocery-focused e-commerce portal www.reliancefreshdirect.com can be launched in different markets, Ambani stated.

    “This yr will convey a few disruptive buying expertise for shoppers as they embrace know-how and have entry to anytime, anyplace buying. With the superior Web infrastructure constructed by Reliance Jio and a strong bodily retail enterprise constructed by Reliance Retail, we’ll create a differentiated e-commerce mannequin for India,” he  added.

    Ambani stated Reliance would scale up its retail presence throughout its codecs from 200 cities to over 900 cities by subsequent yr. Reliance Retail added 930 shops final yr, which translated into 5 shops each two days, setting a brand new international benchmark within the largest variety of retailer openings in a yr, he identified. “This mixed bodily and e-commerce retail enterprise is poised for a progress of 30-50 per cent yr on yr and maintain our management in retail,” Ambani stated. Reliance Retail has a community of two,600 shops in 200 cities throughout 20 states.

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