RIL 41st AGM: Mukesh Ambani On Reliance Retail & E-Commerce Integration

Reliance Retail, which operates across various product categories and formats, has attained revenues of over 177,000 crores in the last year. We achieved record profits of 784 crores at an EBITDA level despite the challenges faced in a tough consumer environment. This business has achieved a compounded annual growth of 30% in the last 5 years. We've accelerated our pace of growth by adding 930 new stores last year, which effectively translates to opening five new stores every two days, setting a new global benchmark in terms of the largest number of store openings in a year. We currently have a network of over 2,600 stores and presence in 200 cities in over 20 states of India. Reliance Retail offers employment opportunities for growth to over 50,000 associates across the country. We are committed to scaling up our retail presence across our formats from 200 cities to over 900 cities by next year, so that the benefits of organized retail are realized by a wider cross-section of Indian consumers. Reliance Retail continued its leadership in our focused sectors of Reliance Digital, Reliance Trends by fashion and lifestyle, and Reliance Value in the grocery area. The Reliance Digital format continues to expand with its current base of over 1,200 stores and continues to serve over 50 million customers in 200 cities. As a leader in grocery retail, our Value format, spread across 570 stores, is regularly patronized by over 120 lakh customers per month for their day-to-day family needs. Reliance Market, which caters to the B2B customers, has further expanded its leadership in the wholesale cash and carry segment in the country and enjoys the patronage of more than 15 lakh small and kirana stores as registered members. Reliance Trends and Footprint continue to drive leadership presence in the fashion and lifestyle segments with its emphasis on fashion for the Indian sensibilities. Reliance Trends continues on its accelerated growth path and is selling 50 lakh garments a month every month in the last year. Reliance Footprint, with its 250 specialty stores, continues to cater to over 20 lakh customers. Having partnered with Reliance Retail, many global brands such as Marks & Spencer, Hamleys, and Vision Express, to name a few, have realized the dream of India being one of their largest international markets. Reliance Retail this year will be embarking on its next phase of building a high-growth trajectory supported with e-commerce and a larger geographic coverage. This year will bring about a disruptive shopping experience for consumers as they embrace technology and get access to anytime, anywhere shopping. With the advanced internet infrastructure built by Jio and a robust physical retail built by Reliance Retail, we will create a differentiated e-commerce model for India. This model will entail seamless integration of online and offline while innovating across superior customer experience, delivery services, and payment ecosystem. Before the end of the year, the fashion and lifestyle formats of Reliance Retail will roll out its e-commerce initiative and make fashion more trendy and accessible to the aspiring Indian youth. Reliance's e-commerce initiative in grocery, Reliance FreshDirect.com, which is currently being piloted in Mumbai, has seen significant success and would be scaled up to serve new markets. The third e-commerce initiative is building on a successful experience of our B2B business. We are rolling out Reliance Digital Marketplace platform to enable millions of small retailers and provide them with enhanced supplier base and product range, better supply chain productivity, digital payment capability, connectivity to serve their customers, and credit capability. We believe that this initiative will be a driver for economic growth by enhancing business potential for millions of our small retailers. Reliance Retail is committed to deliver superior shopper and customer experience across all our physical and e-commerce platforms in a seamless way. True customer value lies in converting footfalls to happy hearts, so that all our shoppers in the physical formats and e-commerce are engaged and delighted with the Reliance customer experience in a seamless manner. The combined physical and e-commerce retail business is poised for a growth of 30 to 50% year on year and sustain our leadership in retail. We are committed to growing Reliance Retail and making it a significant part of our consumer business to generate both societal and shareholder value.