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Reliance Retail, the consumer business arm of Reliance Industries Limited (RIL) has moved up 95 spots to 94th as the top 250 global retailers in 2019, according to global consulting firm Deloitte.
Mukesh Ambani-promoted RIL had become the first and only Indian company to have entered the global retailers' list last year based on its revenues for the fiscal 2017. This year also, it is the only retailer to have been featured among the list of 250 companies that counts Amazon, Walmart and Tesco among others.
In its report Deloitte’s Global Powers of Retailing 2019, the consulting firm mentioned that RIL was also among the fastest 50 growing companies, which was measured by the compounded annual revenue growth over a five -year period from FY 12 to FY 17.
“Reliance Retail was a new entrant in the Fastest 50 list FY 2016 and continued its rapid growth by doubling its retail revenue in FY 17. This was also reflected in its climb of 95 places to No 94 this year. Reliance's retail segment witnessed robust operating performance, driven by major growth across its grocery consumer electronics, fashion and lifestyle businesses. This was supported by store expansion and same store sales growth across its store concepts,” the consulting firm said in its report.
RIL had forayed into the retail arena with Reliance Fresh stores selling fruits, vegetables and other grocery items in 2006. The company now operates in various segments and formats such as Reliance Digital, Reliance Jewels, Reliance Trends and AJIO.com, its fast fashion e-commerce business and Reliance Jio.
Reliance is currently the largest retailer in the country with revenues at Rs.93,903 crore. It operates 9,907 stores across 6,400 towns and cities as on the quarter ending December 31, 2018.
According to the Deloitte report, fast moving consumer goods (FMCG) segment, hardlines and leisure helped the top 250 global retailers achieve a strong volume growth in financial year 2017. According to the report, Europe had the highest number of top 250 retailers this year with 87 companies. However, the US as a country had highest number of companies at 79.
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