Reliance Retail now one of the top 250 global retailers
Every year, Deloitte compiles a list of the world’s top performing retailers and this year India’s Reliance Retail made the list, showing that the Indian retail industry is growing on a global scale. Reliance Retail is a subsidiary of Reliance Industries Limited (RIL) and specialises in fast moving consumer goods (FMCG).
Deloitte’s report on “global powers” commented on Reliance Retail: "Reliance generates the bulk of its sales from its FMCG banners. The company recorded a robust 59.2 percent growth in retail revenue in the financial year 2015-16." A partner at Deloitte, Anil Talreja, explained: "The India retail story continues to be promising. Having faced demonetisation and GST, the retail sector in India will soon be poised for a CAGR [compound annual growth rate] of more than ten percent in the coming year.”
Reliance Retail is part of a group of subsidiaries that fall under the leadership of RIL. These include Reliance Trends, Reliance Digital, and Reliance Footprint. Reliance Retail runs a number of outlets selling apparel, foods, lifestyle products, and homeware among others. The business was founded in 2006 and is based in Mumbai.
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