Reliance Retail, India’s largest retailer, reported record expansion across its store and consumer businesses as it sharpened its push into the country’s fast-growing consumer market.
Chairman and managing director of Reliance Industries Mukesh Ambani said Reliance Consumer Products Ltd. (RCPL), the group’s newly created FMCG arm, posted turnover of Rs 11,500 crore ($1.4 billion) in its first full year of operations, calling it the fastest-growing FMCG company ever in India.
The unit, which markets brands such as Campa, is set to become a direct subsidiary of Reliance Industries, consolidating the group’s consumer offerings under one entity.
Isha Ambani, who leads the retail business, said Reliance added 2,659 stores over the year, expanding its footprint to 19,340 outlets covering 77 million square feet in more than 7,000 towns. Stores account for about 70% of retail revenues and will remain the backbone of the business, she said, with steady annual additions of 2,000–3,000 new outlets.
“In many locations, we have been the first modern trade retailer to enter, securing a first-mover advantage and locking in consumer loyalty,” she said.
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Digital commerce is expected to play a larger role in the coming years. Online channels, which now contribute a high single-digit share of retail revenues, are projected to exceed 20% within three years, she said.
Reliance Retail processed about 1.4 billion transactions over the year—nearly equivalent to India’s population—and its registered customer base rose 15% to 349 million. The company also claimed leadership in hyperlocal quick commerce, citing its nationwide store network, strategically located dark stores, and consumer data infrastructure.
Isha Ambani said the company is confident of delivering annual growth of more than 20%, anchored by eight growth enablers: proprietary brands, consumer insights from billions of transactions, a strong sourcing ecosystem, omni-channel retail, the country’s largest tech-enabled supply chain, B2B empowerment of 42 lakh kiranas and traders through Metro and JioMart Digital, advanced technology capabilities, and a workforce of 250,000.
She added that RCPL’s shift into a direct Reliance subsidiary will allow sharper focus on India’s $2 trillion consumer market, which is growing at 8% annually.
The group sees opportunity in a rising middle class of 350 million households with $1.2 trillion in combined purchasing power, as well as rural markets, which account for 65% of FMCG growth and are adopting branded products at a faster clip than urban areas.
“Reliance Retail is not just participating in India’s consumption boom. We are propelling it,” Isha Ambani said. “With the market, the model, and the means, we have the confidence to surpass our 20% growth target.”
