Reliance Retail crosses a billion transaction benchmark in FY23, to ramp up FMCG business
Reliance Retail has crossed the milestone of a billion transactions in FY23 and its registered customer base reached 249 million, said the latest annual report of Reliance Industries. In FY23, Reliance Retail's digital commerce and new commerce businesses contributed to 18 per cent of its revenue, which stood at Rs 2.60 lakh crore. The company added 3,300 new stores, taking the total count to 18,040 stores with a total area of 65.6 million square feet and has plans to «continue to expand reach into Tier 2 and 3 markets through store network expansion».
«The business crossed the milestone of 1 billion transactions in FY 2022-23, up 42 per cent Y-o-Y. Stores recorded footfalls of over 780 million, which were up 50 per cent Y-o-Y,» said Reliance Industries' annual report. Moreover, Reliance Retail which witnessed «unprecedented growth of retail footprint» is also investing in the backend warehousing and logistics assets of its retail business.
«Investments in boosting supply chain infrastructure remained a priority to deepen warehousing and fulfilment capabilities with the addition of 12.6 million sq ft of warehouse space during the year,» it said. Besides, Reliance Retail which had forayed into the FMCG, relaunching the iconic beverage brand Campa and its own brand 'Independence', has plans to expand it. Its beauty business also launched the digital commerce platform 'Tira' and opened its flagship store in Mumbai.
«These businesses will be ramped up progressively in the coming period,» said the annual report. The business also expanded its product basket through acquisitions and partnerships at both local and global levels like Metro, Campa Cola, GAP, Pret A Manger, Lotus, Sosyo, Maliban and Toffeeman. Reliance Retail runs
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