Reliance Retail turnover up by 48% in first half of FY13

Reliance Industries today said it has witnessed over 48 percent growth in its organised retail business to Rs 4,910 crore during the six months ended September 30.

“During the H1, FY13, Reliance Retail witnessed strong growth through new store launches and same store sales growth. Turnover grew by over 48 percent to Rs 4,910 crore ($ 928 million) as compared to the corresponding period of the previous year,” the company said in a statement.

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Shopping experience, high-quality and affordable products have helped in achieving same store sales growth of 5 percent to 25 percent across formats over last year, it added.

“Value Format opened two new Reliance Marts in Coimbatore and Aurangabad and further consolidated the company’s position as the largest food retailer in the country,” Reliance Industries said, adding strong growth in speciality formats continued as well with more store openings.

Reliance Trends, the fashion apparels and accessories speciality concept, alongwith the company’s electronics goods chain Reliance Digital joined Reliance Footprint in the 100 store club during this period, it said.

Other speciality formats also continued to expand store network, the company said without sharing details. “Reliance Retail grew its presence through its partnerships during this period. Its partnership with Grand Vision that operates Vision Express stores opened 10 stores during this period, taking the count to 172 stores. The period also witnessed new store openings for Hamleys, Steve Madden and Timberland,” it added.

The company has also announced partnership with luxury brands such as Dune and Stuart Weitzman, global high-end footwear brands. “At the end of the quarter, ‘Reliance One’, the company’s loyalty programme had more than 11 million members, who shopped across over 1,350 stores in 122 cities across India, covering 7 million square feet,” it said.

PTI