In the fourth quarter of FY 2022, Reliance Retail reported its best-ever quarterly revenue, surpassing festival quarterly performance despite the oscillation wave and challenges emerging from the festival quarter. Headwinds caused by the Covid situation in January were offset by strong growth in February and March as the business facilitated festival events and early summer season settings.
The company saw a strong quarter for the fashion and lifestyle business, led by local activism during the regional festivals and early launches of the spring-summer merchandise. The trend continues to scale rapidly in small towns. It crossed a milestone of 600 stores in the fourth quarter and added more than 100 stores this quarter.
RIL retail recorded a total revenue of .3 26.3 billion for FY2022, an increase of 26.7 percent over the previous year, driven by broad-based growth across all spending baskets. Despite the Covid restrictions this year, 87 percent of the stores are open and 81 percent attendance is recorded in stores compared to the pre-Covid level.
AJIO continues to grow through new brand additions, catalog expansion and influential campaigns. It is spreading the seeds of the digital fashion revolution far and wide, as evidenced by the growing share in smaller cities, with almost two-thirds of the orders coming from Tier 3 and below. The business has expanded its merchant partner base to more than 3,500 cities with a 3.5-fold increase in revenue compared to last year. The platform continues to strengthen its offerings by expanding its own brand catalog with the introduction of regional and local brands.
Luxury / premium brand business, revenue growth was driven by mall store recovery and sustainable growth of digital commerce platforms. During this time the business has strengthened its portfolio through strategic partnerships with leading Indian fashion designers. Zivame has made another strong quarterly delivery as it continues to ramp up its marketplace model by expanding into new categories of brand new onboarding and fashion accessories, beauty and personal care.
“Despite the ongoing epidemic challenges and increased geopolitical uncertainty, Reliance has delivered a strong performance in FY2021-22. I am pleased to report strong growth in our digital services and retail segment. Our O2C business has proven its resilience and has shown strong recovery despite volatility in the energy market, ”he said. Mukesh D Ambani, Chairman and Managing Director, Reliance Industries LimitedSaid.
“Our relentless focus on customer satisfaction and service has driven strong revenue and earnings statistics across our consumer business, leading to higher engagement and growth. The gradual unfolding of the economy and the sustainable high utilization rates across the site and the improvement in transportation fuel margins and volumes have strengthened our O2C earnings. I am particularly pleased with the progress our company is making in the New Energy and New Materials business. And with our strong global partnership, I am confident that Reliance will create sustainable and affordable new energy solutions for India to help meet its growing energy needs, as well as achieve our ambitious goal of zero net carbon zero by 2035, “Ambani explained. Has done.
Fibre2Fashion News Desk (RR)