Active Stocks
Tue Jun 18 2024 15:44:35
  1. Tata Steel share price
  2. 181.15 -1.04%
  1. Power Grid Corporation Of India share price
  2. 331.70 3.17%
  1. State Bank Of India share price
  2. 844.60 0.52%
  1. HDFC Bank share price
  2. 1,608.75 0.71%
  1. Wipro share price
  2. 491.85 3.04%
Business News/ Companies / News/  Reliance expands its FMCG brand ‘Independence’ to North India
BackBack

Reliance expands its FMCG brand ‘Independence’ to North India

Reliance Retail Ventures Limited (RRVL) brand 'Independence' will sell its FMCG products ranging from staples to processed foods and other daily essentials to Punjab, Haryana, Delhi NCR, Uttar Pradesh, Uttarakhand, and Bihar.

Reliance Retail's fast moving consumer goods arm had first launched the brand in December last year in Gujarat.Premium
Reliance Retail's fast moving consumer goods arm had first launched the brand in December last year in Gujarat.

Mukesh Ambani led Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly owned subsidiary of Reliance Retail Ventures Limited (RRVL), on Wednesday announced the expansion of its consumer packaged goods brand ‘Independence’ to North India.

Reliance Retail Ventures Limited (RRVL) brand 'Independence' will sell its FMCG products ranging from staples to processed foods and other daily essentials to Punjab, Haryana, Delhi NCR, Uttar Pradesh, Uttarakhand, and Bihar.

Reliance Retail's fast moving consumer goods arm had first launched the brand in December last year in Gujarat.

The company said it provides to Indian consumers locally developed, quality products at affordable prices.

There is a significant demand among a large segment of the Indian population for a trustworthy consumer goods brand that offers a wide array of top-notch products at reasonable prices, Reliance said.

RCPL is collaborating with trade partners, including manufacturers and kirana stores, in what they claim is to provide them with improved business opportunities.

The company also plans to expand its distribution network through both online and offline channels in the coming months, reaching more consumers across the country.

"This will further bolster its versatile FMCG portfolio that comprises heritage brands from Sosyo Hajoori, confectionary range from Lotus Chocolates, Sri Lanka’s leading biscuit brand Maliban, as well as daily essentials under its own brands including Independence, among others," said the company.

RRVL reported a consolidated turnover of 260,364 crore and net profit of 9,181 crore for the year ended March 31, 2023.

The Mukesh Ambani led retail chain's gross quarterly revenue was up by 19.42 per cent to 69,267 crore, from 58,017 core in the corresponding quarter last fiscal. Reliance Retail posted a EBITDA which shot up by 32.6 per cent YoY to 4,914 crore.

The company has recorded its highest ever footfall at 219 million across all formats. The business expanded its physical store network with 966 new store openings.

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 21 Jun 2023, 05:17 PM IST
Next Story footLogo
Recommended For You