Isha Ambani, the head of Reliance Retail, has set an ambitious new target for the company.
Isha Ambani, the beloved daughter of Mukesh Ambani, has announced a significant target for her retail business. During the 47th Annual General Meeting (AGM) of Reliance Industries, she addressed investors stating her goal is to double the company’s revenue in the next three to four years. Currently, Reliance Retail ranks among the top 10 companies globally in terms of market capitalization and is listed among the top 30 retail companies based on revenue. Let’s delve into the insights Isha Ambani shared regarding Reliance Retail’s plans.
Isha Ambani’s Target for Reliance Retail
At the AGM of Reliance Industries held on Thursday, Isha Ambani, Director of Reliance Retail, confirmed that the company is aiming to double its revenue over the next three to four years. In the fiscal year 2023-24, Reliance Retail achieved a gross revenue of ₹3.06 lakh crore, reflecting a remarkable 17.8% increase compared to the previous year. Addressing the AGM, Isha expressed her confidence, stating, “Based on the strong foundation we’ve built, I believe we will achieve our target of doubling our retail business in the next three to four years.”
Position Among Global Retailers
On a related note, Mukesh Ambani, the Chairman of Reliance, highlighted the company’s growing stature among global retailers, mentioning that in terms of the number of retail stores, Reliance Retail is now in the top five retail companies worldwide. In terms of market capitalization, Reliance Retail stands as one of the top 10 retailers globally and ranks among the top 30 by revenue. Mukesh revealed that this year, Reliance opened 1,840 new stores, bringing the total number of stores to 18,836. The retail division has successfully raised ₹17,814 crore at a valuation of $100 billion.
Expansion in Smaller Cities
During the event, Isha emphasized that Reliance Retail has emerged as one of the fastest-growing retailers, growing at a rate 2.5 times higher than the industry average. She stated, “Our growth is driven by our focus on smaller cities, where more than two-thirds of our new stores are opening. In many of these markets, we are the first modern retailer to establish a presence.”
Focus on Consumer Brands and Quality
Isha Ambani elaborated on Reliance Retail’s consumer brands strategy, highlighting the company’s commitment to boosting consumption across the nation by offering high-quality products at affordable prices. She noted, “We have successfully reintroduced several popular brands like Campa, Lotus Chocolates, and Socio. The initial success of these brands reinforces our belief that we are on the right track.”
Conclusion
With ambitious growth targets and a keen focus on expanding into smaller cities, Isha Ambani is setting the stage for Reliance Retail to redefine the retail landscape in India. The company’s commitment to quality products and a strategic approach to market expansion positions it strongly for the future in an increasingly competitive market.
