Reliance Retail sees fashion and lifestyle business cross Rs 10,000 crore for first time

By

Isabelle Crossley

Published
Apr 26, 2019

Reliance Retail’s fashion and lifestyle business may have seen its percentage of Mukesh Ambani’s group’s total sales decline but the business crossed Rs 10,000 crore ($1.5 billion) in revenue for the first time last financial year.

Reliance Retail’s fashion and lifestyle business reported that it had crossed Rs 10,000 crore in revenue for the first time in its latest investor presentation.

In the 2019 financial year, fashion and lifestyle sales reached Rs 10,967 crore up from Rs 7,127 crore the year before. Reliance Retail’s total revenue from all businesses reached Rs 1.3 lakh crore in the 2019 financial year. 

Reliance Retail reported in its presentation that it had opened 333 Trends stores in India over the past two years with 200 of those stores opening in the 2019 financial year. Trends also started selling new product categories such as cosmetics, jewellery, and footwear which contributed to growth, the business stated, and India now has a total of 676 Trends stores.

However, the business stated at the presentation that fashion and lifestyle businesses’ sales now account for a smaller amount of the group’s total sales. In the 2018 financial year, fashion and lifestyle sales made up 10.3 percent of Reliance’s total sales but in the 2019 financial year they made up 8.4 percent. 

The business also saw an increase in revenue due to a sales boost at Ajio’s e-commerce store, Hamleys, and Marks & Spencer.

Reliance Retail also retails the brands Ajio Gold, The White Crow, Project Eve, and Reliance Jewels among others.