Reliance Retail, Fynd named in Fast Company's annual list
2 min read 09 Mar 2022, 08:19 PM ISTReliance's retail arm ranked third in the list and received recognition for its new commerce initiative, JioMart and its innovative integration with WhatsApp.Such would be the second recognition in recent years for RIL's businesses.
PremiumReliance Industries led Reliance Retail and Fynd have been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies – the Asia Pacific for 2022. Reliance's retail arm ranked third in the list and received recognition for its new commerce initiative, JioMart and its innovative integration with WhatsApp.
Fynd which is the omnichannel platform from Reliance-backed Shopsense Retail Technologies ranked 9 in the list for its innovative retail technology solution that helped store owners with no online presence sell goods remotely when they had to shut due to the pandemic.
Such would be the second recognition in recent years for RIL's businesses. Earlier, Reliance Jio in 2018 was ranked at number 17 in Fast Company’s list of the world’s 50 Most Innovative Companies.
In the current year, the Fast Company list honours businesses that are making the biggest impact on their industries and culture as a whole—ultimately thriving in today’s ever-changing world. These companies are creating the future today with some of the most inspiring accomplishments of the 21st century. Additionally, to the World's 50 Most Innovative Companies, 528 organizations are recognized across 52 categories.
Reliance Retail which is the largest retailer in India has witnessed robust growth over the years which has triggered a large socio-economic transformation on an extraordinary scale in India. Reliance Retail’s operating model unleashes the aspirational energy of the new, resurgent India. Its guiding philosophy rests on the tenets of enabling inclusion, growth and building sustainable societal value for millions of Indians.
The retail chain firm through its JioMart aims is to transform and grow the small merchant ecosystem so that the merchant partners prosper and can service their customers better. Reliance Retail’s robust operating model and capabilities have withstood the testing times posed by the pandemic.
When the world was struggling to cope in maintaining sustainability in business activities during the time pandemic hit, especially in the lockdown period, the JioMart platform enabled Reliance Retail continuously served the Kirana partners, so that they in turn could serve their customers.
In a statement, the company stated that "the award is a testament to the impact JioMart has had and the significant new value it has created for small merchants, customers and all other partners in the retail ecosystem."
Meanwhile, Reliance-owned startup, Fynd is supporting retail businesses to accelerate growth. It is a one-stop shop for building omnichannel solutions using innovative retail technology reducing the complexities of adding new brands, channels, store locations, fulfilment centers, and more.
