As per the company’s annual report, Reliance Retail has invested around Rs 30,000 crore in fiscal year 2022.
The company bought a majority stake in Just Dial, bought Milkbasket, a daily micro delivery platform with a subscription model, and signed an agreement of master franchise with 7-Eleven, Inc., to open and expand the line of convenience stores in the country. Furthermore, Reliance Retails has also bought stakes in a number of Indian designer labels, which include Manish Malhotra and Ritu Kumar.
Besides, the company bought lingerie brands such as Clovia and Amante, adding to its portfolio of innerwear labels. The company has also bought Kala Niketan to strengthen its ethnic wear line, Jaisurya, which is a retail grocery chain in the South, and has bought a majority stake in Addverb Technologies, which provides robotic systems for warehouse automation solutions and automated material handling. Besides, it has also invested $200 million in Dunzo, which is a quick commerce and last-mile fulfilment company. Reliance Retails has also launched inhouse brands such as the saree label Avantra, and the gourmet label Freshpik.
Almost 17% of the revenues come from merchant partnerships and digital commerce now compared to the previous years. The company also launched 2,500 new stores and 11.1 million sq ft of warehouse space in financial year 2022.
The total store count of Reliance Retails is 13,196 stores, which is up from 12,711 at the end of fiscal year 2021. These are inclusive of the smaller Jio Digital Life stores. Besides, Reliance Retail’s merchant partner grew three times year-on-year, wherein digital commerce orders jumped 2.5 times year-on-year. Also, the registered customer base of the company grew 24% to 193 million.
