Reliance Retail is also the only Indian company to be listed in the top 250 global retailers listed in the report for the fifth year in a row, based on FY20 retail sales growth.

Mukesh Ambani’s Reliance Retail is the second fastest growing retailer in the world, according to Deloitte’s 2022 report, Global Powers of Retailing. South Korean e-commerce brand Coupang topped the list.

Reliance Retail is also the only Indian company to be listed in the top 250 global retailers listed in the report for the fifth year in a row, based on FY20 retail sales growth.

Ranked 56 overall, three places below the 2021 ranking, Reliance Retail posted a five-year CAGR in store sales growth of 49.4% from FY15-20. However, the company saw its retail sales fall 5.3% in FY20 as a result of the pandemic-induced lockdowns and market restrictions. The report notes that the company’s efforts to broaden its digital capabilities by expanding its e-commerce platform, JioMart, and several key acquisitions of e-commerce companies may have fueled its growth.

Last year was an eventful year for Reliance Retail. The company entered into a franchise agreement with 7-Eleven Inc to launch 7-Eleven supermarkets in India. In addition, the lingerie brand ‘amanté’ acquired from MAS Holdings, and also acquired a 52% stake in Ritika, the firm of designer Ritu Kumar, and a 41% stake in Just Dial. In addition, it ventured into the ultra-premium supermarkets with Freshpik.

US retail giant Walmart has maintained its position as the world’s largest retailer on the Deloitte list, with Amazon and Costco at number two and three, respectively. Seven of the top 10 retailers are American, including The Home Depot, The Kroger Co, and Target Corporation. Germany’s Schwarz Group and Aldi Einkauf GmbH & Co oHG and Aldi International Services GmbH & Co oHG are in fourth and eighth place, respectively.

Globally, Europe is responsible for the largest number of top 250 retailers, with 90 companies in the region, while North America has the highest share of the top 250 retail sales at 48.4%.


This post Reliance Retail is the second fastest growing retailer in the world: Deloitte report was original published at “https://www.financialexpress.com/industry/reliance-retail-is-worlds-second-fastest-growing-retailer-deloitte-report/2463208/”

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