Reliance Retail, India's leading retail company, has set a bold goal to double its business within the next three to four years. This ambitious target was announced by Director Isha Ambani at the Annual General Meeting (AGM) of Reliance Industries.
For the financial year ending March 31, 2024, Reliance Retail reported a gross revenue of Rs 3.06 lakh crore ($36.8 billion), reflecting a strong 17.8 per cent growth compared to the previous year. Isha Ambani expressed confidence in achieving the company's goal, stating, "With the strong foundation we have built, I am confident that we will achieve our goal of doubling our retail business in the next 3-4 years."
Reliance Retail's global standing is impressive. As per Reliance Chairman Mukesh Ambani, the company is among the top five retailers worldwide in terms of store count and ranks within the top 10 in market capitalization. It also ranks among the top 30 retailers globally based on revenue.
Over the past year, Reliance Retail opened 1,840 new stores, increasing its total store count to 18,836, with a combined retail space of 79 million square feet.
The company also successfully raised Rs 17,814 crore (USD 2.1 billion) at a valuation of USD 100 billion. Isha Ambani highlighted the company's exceptional performance in various segments, particularly in grocery, where Reliance Retail is now the largest and one of the fastest-growing retailers, expanding 2.5 times faster than the rest of the modern trade.
