Reliance Retail’s revenue grew from Rs 7,000 crore in 2011-12 (FY12) to Rs 1.3 trillion in 2021-22 (FY22).
Retail now accounts for a fourth of Reliance Industries’ total revenue. Although the retailer saw a 5 per cent dip in revenue due to the pandemic in 2020-21 (FY21), it grew almost 30 per cent in FY22.
In the past decade, Reliance Retail’s international brand partnerships have risen threefold — from 14 in FY12 to 47 in FY22. Its partnerships with international brands like Armani, Balenciaga, Hugo Boss, Steve Madden, and Jimmy Choo, among others, have dominated its luxury and premium segment of lifestyle and fashion.
In July this year, it announced a partnership with Gap Inc to bring the all-American fashion brand to India. Last month, it launched its own lifestyle store brand Azorte in Bengaluru and department store Reliance Centro in Delhi.
A Business Standard analysis found that while the number of Reliance retail stores has grown fourfold in six financial years, this growth has not been uniform. At 1,095 stores, the South has the maximum Reliance lifestyle stores in the country. Oddly enough, the pace of growth has been the fastest in the East.
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