09 August 2022, Mumbai:
Reliance Industries expanded its retail network in FY22 by adding 2,500 stores with an investment of 30,000 crores.
Reliance Retail increased its total store count to 15,196 during the year. Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet.
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In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh. During the fiscal year, Reliance Retail further strengthened its sourcing ecosystem, working closely with producers, MSMEs, service providers, and local and international brand companies.
In FY22, on average, Reliance Retail Ltd added seven stores per day.
Moreover, its merchant partnerships and digital commerce witnessed a substantial increase and contributed nearly 17 percent of its revenues compared to 10 percent in the preceding year, it said.
Reliance Retail, which had in FY22 acquired a majority stake in Just Dial, partnered with several leading Indian and global coutures and acquired franchise right. It plans to develop new brands, integrate acquisitions, and launch and scale up new businesses.
Reliance Brands will also work to strengthen supply chain infrastructure and product and design ecosystems to support business growth.
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