In FY22, Reliance Retail bought a majority stake in
, signed a master franchise agreement with 7-Eleven, Inc. for the opening and quick expansion of 7-Eleven convenience stores in India, bought Milkbasket, a daily micro delivery platform with a subscription model, and bought stakes in several Indian designer labels, including Ritu Kumar and Manish Malhotra.
It also acquired ecommerce lingerie brands Amante and Clovia to add to its portfolio of innerwear brands. Reliance also bought Kalanikethan to bolster its ethnic wear portfolio, Jaisurya, a grocery retail chain in the southern market, and a majority stake in Addverb Technologies, a provider of robotic systems for automated material handling and warehouse automation solutions. Additionally, it invested $200 million in Dunzo, a quick commerce and last-mile fulfillment company.
It started new inhouse brands like saree brand Avantra, and gourmet brand Freshpik.
Merchant partnerships and digital commerce now contribute nearly 17% of revenues compared to 10% in the preceding year, it said in the report.
The company opened 2,500 new stores and 11.1 million square feet of warehouse space in FY22.
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Retail total store count stood at 15,196, up from 12,711 stores at the end of FY21. These stores also include the smaller Jio Digital Life stores which helps the company sell sim cards and other services. Also, its merchant partners grew three times year-on-year (YoY) while digital commerce orders grew 2.5 times (YoY).
The company’s registered customer base grew 24% to 193 million.
