106th Day Of Lockdown

Maharashtra2171211185589250 Tamil Nadu118594711161636 Delhi102831742173165 Gujarat37636267441978 Uttar Pradesh2996819627313 Telangana2761216287313 Karnataka2681511100417 West Bengal2383715790804 Rajasthan2140416575472 Andhra Pradesh211979745252 Haryana1799913645279 Madhya Pradesh1562711768622 Bihar12525933898 Assam12523833016 Odisha10097670354 Jammu and Kashmir89315399143 Punjab67494554175 Kerala5895345228 Chhatisgarh3415272814 Uttarakhand3230262143 Jharkhand3018210422 Goa190311568 Tripura171612481 Manipur14307710 Himachal Pradesh107876410 Puducherry104351714 Nagaland6443030 Chandigarh4924017 Arunachal Pradesh270922 Mizoram1971390 Sikkim125650 Meghalaya94432
Business Companies 13 Aug 2019 Reliance Retail may ...

Reliance Retail may get global partner

DECCAN CHRONICLE. | SANGEETHA G
Published Aug 13, 2019, 4:49 am IST
Updated Aug 13, 2019, 4:51 am IST
Reliance Retail has crossed Rs 130,000-crore turnover and is four times larger than the second largest retail player.
Mukesh Ambani
 Mukesh Ambani

Chennai: Amidst reports of Amazon eyeing stake in Reliance Retail, the conglomerate has announ-ced plans to get global partners for its retail business and to list the entity in five years. The New Commerce, or Reliance’s omni-channel, proposes to partner with millions of small merchants and kirana shops.

Addressing shareholders at the 42nd AGM, Reliance Industries Chairman Mukesh Ambani said the retail arm would be one of the key growth engine of the group. “We have received strong interest from strategic and financial investors in our consumer businesses, Jio and Reliance Retail. We will induct leading global partners in these businesses in the next few quarters, and move towards listing of both these companies within the next five years,” he said.

 

Reliance Retail has crossed Rs 130,000-crore turnover and is four times larger than the second largest retail player. “Reliance Jio and Reliance Retail collectively contribute nearly 32 per cent to the consolidated Ebitda, up from 2 per cent five years ago. The day is not far when their share would be 50 per cent,” he said. Over the next five years, the aim is to be amongst the world's top 20 retailers.

Further, he finds the omni-channel model as a massive new business opportunity of $700 billion. It will completely transform the unorganised retail market, which accounts for 90 per cent of India's retail industry, comprising three crore merchants and kirana shop owners, he said.

“Reliance Retail plans to tap into a myriad of neighbourhood mom-and-pop stores. Such stores would carry out the last-mile delivery, which would help save on logistics costs,” said Edelweiss Securities.

“We are convinced that India’s retail sector offers an immense opportunity and that organised players have so far barely scratched the surface,” said Edelweiss.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT