Reliance leaps to 94th spot on Deloitte’s top retailers’ list

Reliance Retail jumped 95 spots on Deloitte’s Global Powers of Retailing 2019, to reach the 94th spot, buoyed by the homegrown retailer’s ability to rapidly increase it revenues, the consulting firm said in a report on Tuesday.

Deloitte ranked 250 firms for its annual report based on their retail revenues for fiscal year 2017.

In case of Indian companies, Deloitte factored revenue for year ended March 2018.

Reliance first entered Deloitte’s global retail ranking last year, becoming the first Indian retailer to be part of the list that tracks 250 retailers the world over. In this year’s ranking, it moved up significantly.

“Europe had the highest number of top 250 retailers, individual companies from other regions such as Amazon and Reliance did exceptionally well by climbing 2 and 95 spots respectively on the strength of exceptional retail growth,” Deloitte said in a statement. Amazon saw a retail growth of 25.3 % while Reliance nearly doubled its retail revenue in FY17, Deloitte said.

Reliance Retail is India’s largest retail chain, both by revenue and the total number of stores. It sells a range of goods including grocery, electronics, and apparel under various retail brands such as Reliance Digital, Reliance Smart and Reliance Trends among others. To be sure, the company’s retail business also includes sales points for its Jio telecom business and its fuel retail business.

In the financial year 2017-18, Reliance Retail clocked revenue of ₹69,198 crore. As of September 2018, the retailer operated 9,146 stores in over 5,800 cities in the country.