Reliance Retail is second fastest growing retailer in the world


New Delhi, May 9 (IANS): Reliance Retail ranks 53rd in the list of Global Powers of Retailing by Deloitte, improves from 56th earlier.

It remains the 2nd fastest growing retailer in the world despite the base effect of being No.1 last year.

Reliance Retail features consecutively for the 4th time in the list of Global Powers of Retailing and World's Fastest Retailers.

Reliance Retail, last year's Fastest 50 leader, dropped to second place. The company recorded YoY growth of 41.8%, driven primarily by a 13.1% increase in the number of stores in its consumer electronics, fashion and lifestyle and grocery retail chains, to 11,784 stores across 7,000 plus towns and cities in India at fiscal year end.

E-commerce is a second growth driver, through both digital commerce (B2C) and B2B. The company is partnering with WhatsApp to further accelerate Reliance Retail's digital commerce business on the JioMart platform using WhatsApp and to support small businesses on WhatsApp.

Reliance Retail acquired the 29 stores of Shri Kannan Departmental Store at the end of FY2019 and in August 2020 announced it would acquire Future Group's retail, wholesale and logistics units for $3.4 billion.

When fully approved, the deal will almost double Reliance Retail's store space.82 Reliance Retail also made two e-commerce acquisitions in 2020, buying Vitalic Health and its online pharmacy platform Netmeds in August, and a 96% stake in online home decor company UrbanLadder in November.

Walmart has led the list of the world's Top 250 global retailers for over 20 years. The company registered YoY FY2019 retail revenue growth of 1.9%, fueled mainly by growth in comparable store sales in the United States.

Amazon becomes the number two global retailer, pushing Costco down to third place. Top 10 retailers focus on core markets, withdrawing from some international markets There were no new entrants to the Top 10 list in FY2019, which continues to be dominated by players based in the United States. The only mover was Amazon, which has risen in the rankings every year since its entry in tenth place in FY2015.

 

  

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Comment on this article

  • Dev, M6

    Sun, May 09 2021

    As long as Hum Do Hamare Do poor guys exist all others will go down all small and medium retailers will be killed with lockdown measures and their space will be awarded to them by their Pradhan Sevak. People can stop this by boycotting their products and services and teach a lesson to Gujju Boys.

    DisAgree Agree [1] Reply Report Abuse

  • Naresh, Kerala

    Sun, May 09 2021

    Rightly said, Ambani and Adani have a good Marketing / Finance managers.... Every PSU is bleeding due to lack of support from Government who is systematically trying to destroy the PSUs which have been backbone of the economy..... See the Net Profit of some of the PSUs in 2014 and 2020 (before Covid) - SBI up from 10891 Cr. to 14488 Cr.; BHEL down from 3460 Cr. to -1473 Cr; SAIL down from 2616 Cr. to 2021 Cr.; ONGC down from 22094 Cr. to 13444 Cr.; BPCL down from 4060 Cr. to 2683 Cr.; Coal India down from 15008 Cr. to 11280 Cr.; NTPC down from 10974 Cr. to 10112 Cr. .... and BSNL / MTNL gone down the doldrums..... Mehul Choksi, Nirav Modi going scot free.... And now the Finance Minister in the last budget wanted to privatise 2 Nationalised Banks and LIC too..... (It is time to re-phrase the nursery rhyme Ba Ba Black Sheep..... Do you have any Banks..... Yes Sir, Yes Sir, 3 Banks full..... One for my Ambani, One for my Adani..... And one more LIC, let it go down the drains....) No wonder, if Ambani and Adani prosper under Feku & Co.

    DisAgree Agree [5] Reply Report Abuse

  • V Divakar, Kankanady

    Sun, May 09 2021

    RELIANCE means Releable.Worth for the money spent

    DisAgree Agree [2] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, May 09 2021

    Ambani & Adani have a Good Marketing Manager ...

    DisAgree [4] Agree [18] Reply Report Abuse

  • Moshu, Mangaluru

    Sun, May 09 2021

    Corona has brought good fortune to these two. Deal of oxygen agency expected to acquire by them since the scientists and doctors affirm the covid likely to sustains eaternal in human life.

    DisAgree [1] Agree [4] Report Abuse

  • Salman Khangressi, Mumbai

    Sun, May 09 2021

    Good finance manager also...Please don't think Ambani is putting his own money in his ventures...his money is safe and sound in tax free havens.

    DisAgree [2] Agree [9] Report Abuse


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