Ambani states that Reliance Retail will grow 3x in 3-5 years

Reliance Retail

Reliance Industries Chairman and MD, Mukesh Ambani recently stated that Reliance Retail will soon grow three times in the next three to five years. Reliance Industries operates several businesses across different domains groceries, consumer, electronics, and so on. It still is growing steadily as one of the top retailers in the world. Ambani recently stated that the company aims to be in the top ten retail companies in the world.

Mr. Mukesh said that this year the company’s apparel business sold nearly five lakh units per day over 18 crore units annually. He added that this equal to dressing the entire population of UK, Spain, and Germany once. As per sources, Reliance’s Ajio, which directly competes with Myntra which is backed by Walmart, currently contributes around 25% of the company’s apparel business.

Reliance employs around 2 lakh people in the country and has added 1500 new stores during 2021, which has taken its total store count to 12,711. This created around 65,000 new jobs and it expects to hire over 10 lakh people over the next three years.

Reliance recently witnessed a threefold growth in grocery orders. Since the frequency of orders is doubling, Reliance Industries’ retail wing is planning to bring in over one crore merchants on the JioMart platform over the upcoming three years.