 "reliance")
Reliance’s FMCG division, operating under brand names like ‘Smart Bazaar,’ is part of its broader retail segment.
Reliance’s FMCG division, operating under brand names like ‘Smart Bazaar,’ is part of its broader retail segment, which also includes electronics, fashion, and connectivity products.
Reliance plans to double its value by 2027
The expansion plans are part of Reliance’s broader strategy to double its value by 2027, the year when the company celebrates its 50th anniversary. Ambani had announced this goal during the annual general meeting held on August 31.
During the meeting, the company reported that its retail segment logged a gross revenue of $36.8 billion in the financial year 2023-24 (FY24), marking a 17.8 per cent increase from the previous year. Overall, Reliance Industries achieved a record consolidated revenue of Rs 10,00,122 crore ($119.9 billion) in FY24, Ambani said.
Indian FMCG market to surpass $1.4 trillion by 2027
Reliance has been strengthening its retail sector presence through acquisitions and partnerships. Notably, it acquired the defunct Campa Cola brand in 2022 for approximately Rs 22 crore. The company is also focusing on the confectionery sector, having acquired Ravalgon and Lotus Chocolates. Additionally, Reliance Consumer has forged a partnership with Sri Lanka-based Maliban Biscuit.
Reliance’s retail store network has grown to 18,836 locations, with total retail space expanding to 79.1 million sq. ft., reflecting a 20.6 per cent year-on-year increase, according to its latest integrated annual report.
The extensive expansion bid is part of the company’s strategy to capitalise on the Indian FMCG market, which is projected to surpass $1.4 trillion by 2027.
First Published: Sep 05 2024 | 10:34 AM IST