Reliance Retail invests Rs. 30,000 crore (US$ 3.77 billion) in FY22, customer base climbs 193 million

Reliance Retail invested Rs. 30,000 crore (US$ 3.77 billion) in FY22 to increase its customer base through organic expansion, acquisitions, and strategic alliances. The company also continued to invest in network and infrastructure expansion as well as strengthening its digital and new commerce capabilities.

Additionally, Reliance Retail increased its warehouse space by over 11.1 million sq. ft. during FY22, bringing the total to 22.7 million sq. ft. The company also expanded its retail area by over 8 million sq. ft., bringing the total to over 41.6 million sq. ft.

RIL's retail arm worked closely with producers, MSMEs, service providers, local and international brand firms during FY22 to further develop its ecosystem for sourcing products.

Despite the pandemic disrupting livelihoods, Reliance Retail increased the number of jobs in the economy by over 150,000. The registered customer base of the company stood at 193 million, a growth of 24% YoY.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.