02 November2022, Mumbai:
Hardik Pandya is the brand ambassador of Xlerate. Reliance Retail, run by Reliance Industries, has strengthened its brand portfolio with the launch of Xlerate. For the second quarter Reliance Retail’s gross revenue rose by 42 percent. Ebitda rose by 51 percent during the quarter. Net profit for the quarter increased by 36 percent compared to the same quarter a year prior. Cash profit increased by 45 percent.
This athleisure brand offers sports shoes, athletic and lifestyle footwear, and apparel such as track pants, T-shirts, shorts, and other accessories. Xlerate products will be exclusively available on Ajio Business, the new-commerce arm of Reliance Retail which houses 5000-plus fashion and lifestyle brands.
The quarter saw Reliance Retail open a total of 795 stores across India for its numerous fashion, beauty, and lifestyle brands. This brought the business store total to 16,617.
The second quarter also saw Reliance Retail become the first Indian retailer with over 50 million sqft of retail space. The business delivered record performance with a strong revival in footfalls, store additions, and digital integration. As consumers returned to stores, Reliance Retail had a 23 percent growth in footfalls across formats and geographies over the pre-Covid period.
