Reliance invests ₹30,000 crore in FY22; to accelerate store expansion, e-commerce
The Hindu
In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh
Reliance Industries invested ₹30,000 crore (around $3.76 billion) in its retail business and added 2,500 stores, taking the total store count to 15,196 in FY22.
Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet, Reliance Industries Ltd (RIL) said in the annual report for FY22.
In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh.
During the fiscal year, Reliance Retail further strengthened its sourcing ecosystem, working closely with producers, MSMEs, service providers, and local and international brand companies, it added.
“Reliance Retail has built capabilities through organic growth, acquisitions, and strategic partnerships with investments near ₹30,000 crore in FY 2021-22. Reliance Retail added over 2,500 new stores and 11.1 million sq ft of warehousing space during the year,” said RIL.
In FY22, on an average, Reliance Retail added seven stores per day.
Moreover, its merchant partnerships and digital commerce witnessed a substantial increase and contributed nearly 17% of its revenues compared to 10% in the preceding year, it said.