Reliance Retail set to grow 3x in 3-5 years: Ambani

New Delhi: Reliance Retail is set to grow three times in the next three to five years, said chairman and MD Mukesh Ambani. The company, which operates several businesses across categories such as grocery, consumer electronics and pharma, continues to be among the fastest growing retailers in the world and aims to be among the top 10 globally, Ambani said at RIL’s AGM on Thursday.

“Our apparel business sold nearly five lakh units per day and over 18 crore units during the year. This is equivalent to dressing the entire population of the UK, Germany and Spain once,” he said. Ajio, which competes with Walmart-backed Myntra, currently contributes to over 25% of the company’s apparel business.

The company, which employs around 2 lakh people, added 1,500 new stores during the year (FY21), taking its store count to 12,711. It created over 65,000 new jobs and, over the next three years, aims to hire over 10 lakh people.

“We further consolidated our position in consumer electronics and sold 4.5 crore units of electronics last year, which translates to over 1.2 lakh units per day,” said Ambani. “Reliance Retail sold over a billion units of groceries or about 30 lakh units per day. JioMart registered over 6.5 lakh peak orders in a single day.”

It witnessed a threefold growth in kirana orders, and with doubling of the order frequency, Reliance Retail plans to onboard over one crore merchants on the JioMart platform over the next three years.