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Hub AI
Reliance Retail AI simulator
(@Reliance Retail_simulator)
Hub AI
Reliance Retail AI simulator
(@Reliance Retail_simulator)
Reliance Retail
Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023,[update] it has over 245,000 employees at 18,000 store locations in 7,000 towns.
Reliance Retail was established in 2006 as a wholly owned subsidiary of Reliance Industries, with chairman Mukesh Ambani announcing an investment of up to ₹25,000 crore (US$5.52 billion) for the new venture at Reliance's 32nd annual general meeting in June 2006.
The first set of convenience stores under the name Reliance Fresh were inaugurated in Hyderabad in November 2006. This was followed by entry into consumer electronics via Reliance Digital, hypermarkets under Reliance Mart, apparel with Reliance Trends, jewellery via Reliance Jewels, and footwear through Reliance Footprint, all in 2007.
In 2008, Marks & Spencer established a 51:49 joint venture with Reliance Retail to open a chain of Marks & Spencer stores in India. In 2011, Reliance Retail started its wholesale cash and carry chain called Reliance Market.
In 2013, the company stopped retailing non-vegetarian food items and shut down its 100-plus Reliance Delight meat and seafood stores, owing to opposition from shareholders, customers and animal rights activists. By 2014, it also closed its book and music stores called Reliance TimeOut, and furniture retailer, Reliance Living, in order to focus on value retailing and e-commerce.
In 2016, Reliance Retail rebranded its hypermarket and mini-hypermarket formats–Reliance Mart and Reliance Super–under the name Reliance Smart. In April 2016, it launched its online fashion retail platform called AJIO.
Reliance Retail largely grew organically until 2019, when it acquired the multinational toy retailer Hamleys. In December 2019, the company soft-launched its online grocery service JioMart, followed by a wide launch in May 2020 amidst the COVID-19 lockdown.
In August 2020, Reliance Retail announced its acquisition of Future Group's retail, wholesale, logistics and warehousing business for ₹24,713 crore (US$3.34 billion). However, the deal was called off in April 2022 after a prolonged legal dispute between Future Group and Amazon. Later, Reliance Retail took over more than 200 of Future Group's Big Bazaar, Central and Brand Factory outlets due to Future Group's non-payment of lease, and reopened them as Smart Bazaar, Centro and Fashion Factory respectively.
Reliance Retail
Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023,[update] it has over 245,000 employees at 18,000 store locations in 7,000 towns.
Reliance Retail was established in 2006 as a wholly owned subsidiary of Reliance Industries, with chairman Mukesh Ambani announcing an investment of up to ₹25,000 crore (US$5.52 billion) for the new venture at Reliance's 32nd annual general meeting in June 2006.
The first set of convenience stores under the name Reliance Fresh were inaugurated in Hyderabad in November 2006. This was followed by entry into consumer electronics via Reliance Digital, hypermarkets under Reliance Mart, apparel with Reliance Trends, jewellery via Reliance Jewels, and footwear through Reliance Footprint, all in 2007.
In 2008, Marks & Spencer established a 51:49 joint venture with Reliance Retail to open a chain of Marks & Spencer stores in India. In 2011, Reliance Retail started its wholesale cash and carry chain called Reliance Market.
In 2013, the company stopped retailing non-vegetarian food items and shut down its 100-plus Reliance Delight meat and seafood stores, owing to opposition from shareholders, customers and animal rights activists. By 2014, it also closed its book and music stores called Reliance TimeOut, and furniture retailer, Reliance Living, in order to focus on value retailing and e-commerce.
In 2016, Reliance Retail rebranded its hypermarket and mini-hypermarket formats–Reliance Mart and Reliance Super–under the name Reliance Smart. In April 2016, it launched its online fashion retail platform called AJIO.
Reliance Retail largely grew organically until 2019, when it acquired the multinational toy retailer Hamleys. In December 2019, the company soft-launched its online grocery service JioMart, followed by a wide launch in May 2020 amidst the COVID-19 lockdown.
In August 2020, Reliance Retail announced its acquisition of Future Group's retail, wholesale, logistics and warehousing business for ₹24,713 crore (US$3.34 billion). However, the deal was called off in April 2022 after a prolonged legal dispute between Future Group and Amazon. Later, Reliance Retail took over more than 200 of Future Group's Big Bazaar, Central and Brand Factory outlets due to Future Group's non-payment of lease, and reopened them as Smart Bazaar, Centro and Fashion Factory respectively.