Reliance Retail Ventures Expands Footprint with ‘Independence’ in North India
Reliance Retail Ventures Limited (RRVL), under the leadership of Mukesh Ambani, is making significant strides in the FMCG sector with the expansion of its consumer packaged goods brand ‘Independence’ to North India. The move aims to cater to the growing demand for trustworthy consumer goods that offer a wide range of high-quality products at affordable prices. With a focus on staples, processed foods, and daily essentials, Reliance aims to provide Indian consumers with locally developed products that meet their needs.
After successfully launching ‘Independence’ in Gujarat last year, Reliance Retail Ventures Limited (RRVL) is now extending the brand’s presence to Punjab, Haryana, Delhi NCR, Uttar Pradesh, Uttarakhand, and Bihar. The expansion enables a larger segment of the Indian population to access high-quality FMCG products at reasonable prices. Reliance aims to address the demand for a trustworthy brand that offers a diverse range of products, including staples, processed foods, and daily essentials.
To support the expansion, RCPL is partnering with trade stakeholders, including manufacturers and kirana stores, to provide them with improved business opportunities. This collaboration not only strengthens the supply chain but also creates a win-win situation for both Reliance and its trade partners. Additionally, Reliance plans to enhance its distribution network through online and offline channels, aiming to reach a wider consumer base across the country. By leveraging both digital and physical platforms, Reliance seeks to make its products more accessible and convenient for customers.
Growing FMCG Portfolio: Reliance Retail Ventures Limited’s FMCG portfolio continues to grow and diversify. Alongside the ‘Independence’ brand, it includes heritage brands like Sosyo Hajoori, a confectionary range from Lotus Chocolates, Sri Lanka’s renowned biscuit brand Maliban, and a range of daily essentials under its own labels. This broad product portfolio reflects Reliance’s commitment to offering a comprehensive range of high-quality FMCG products to cater to the diverse preferences and needs of Indian consumers.
Impressive Financial Performance: Reliance Retail Ventures Limited (RRVL) has demonstrated robust financial performance, reporting a consolidated turnover of ₹260,364 crore and a net profit of ₹9,181 crore for the year ending March 31, 2023. With a 19.42% increase in quarterly revenue to ₹69,267 crore and a 32.6% YoY growth in EBITDA to ₹4,914 crore, Reliance Retail’s FMCG arm is playing a significant role in driving the company’s overall success. The expansion of its physical store network, with 966 new store openings, contributed to record-breaking footfall of 219 million across all formats.