Latest news with #Azorte
Fashion Network
06-05-2025
- Entertainment
- Fashion Network
Azorte collaborates with Hot Wheels for apparel line
Reliance Retail 's youth focused apparel and lifestyle brand Azorte has collaborated with American media franchise Hot Wheels. The omni-channel label has launched a collection of graphic, streetwear inspired garments for men and women to connect with fans of the global franchise. "From race tracks to your closet, Azorte x Hot Wheels is officially live," announced Azorte on Facebook, debuting the collection. "Not just a collectible, it's a statement. Hot Wheels collection is built for bold moves." The clothing line focuses on graphic t-shirts, featuring classic Hot Wheels imagery such as flames, race cars, and race bikes. The cartoon style imagery and relaxed fit garments are tailored to Gen Z tastes and current trends in line with Azorte's brand positioning. Reliance Retail launched Azorte online in 2022 then the business opened its first brick-and-mortar store in Bengaluru. Today, Azorte counts around 40 offline outlets, including its recent launch in Lucknow, and also retails on Reliance's multi-brand online platform Ajio.
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Business Standard
02-05-2025
- Business
- Business Standard
Reliance Retail targets new store profitability within a year or shut down
Reliance Retail has set a new rule for all upcoming stores: they must become profitable within six to 12 months. If not, they will be shut down or replaced with a different retail format, according to a report by The Economic Times. This is a big change from the earlier policy, which allowed up to two years to asses if a store could work. The move shows Reliance Retail is now more focused on profits and better margins, especially as it prepares for a future stock market listing (IPO). In a recent private meeting with analysts, the management said that details of the IPO would be shared 'in due course,' according to a company executive. The report mentioned that the company, which had a turnover of ₹2.91 trillion, will also slow down its store expansion. It now plans to open 500–550 stores a year, down from more than 1,000 earlier. In 2022-23, it had opened over 3,300 stores. In the last three years, Reliance Retail has also shut down over 3,650 stores that were not making money. Reliance Retail operates in many categories like electronics, groceries, clothes, footwear, jewellery, eyewear, medicine, and handicrafts. It runs stores under brands such as Reliance Fresh, Digital, Trends, and MyJio. 'The days of crazy expansion are over, but store count will definitely go up every year... Otherwise revenue growth rate will become slower,' a person aware of the company's plans told The Economic Times. According to him, the company is now more careful about where it opens new stores. 'With higher due diligence in location selection, over 90 per cent of the stores should achieve the breakeven target. Some may still not as market shifts by the time a store may come up,' he added. Reliance is also focusing on premium products, especially in grocery and fashion. Its high-end formats like Freshpik and Gofresh are doing well, said Chief Financial Officer Dinesh Taluja during an earnings call last week. It is revamping its budget fashion brand Trends to appeal more to young customers, using new technology similar to its other format, Azorte. Its profit margins over the last two years are improving too, due to a 'streamlining' process where it shut unprofitable stores and improved operations. Reliance also wants to earn profit in areas that usually lose money—like online shopping. Taluja said its 30-minute delivery model will compete with quick commerce 'in a profitable manner with a very strong unit economics.' He explained that deliveries will be made from nearby stores, not from special 'dark stores'. This helps cut fixed costs and allows extra sales with only small extra expenses.
India.com
02-05-2025
- Business
- India.com
Mukesh Ambani, Isha Ambani's BIG warning to Reliance Retail's…, says perform or…
Reliance Retail is trying to be profitable and working on its operational efficiency before it goes for a potential Initial Public Offering (IPO). The company had earlier decided the period of break even after new stores are opened of two years but now it has shortened it to 6 to 12 months. Those stores who are failing to meet their target will be shut down or replaced with another retail format, according to the Economic Times report. Earlier Reliance Retail opened 1000 new stores annually but has reduced it to 500–550. In FY23, the company had opened over 3,300 stores but also closed more than 3,650 non-profitable outlets over the last three financial years. The company has 2.91 lakh-crore turnover and operates 19,340 stores across India as of March 2025. It sells products like electronics, groceries, apparel, footwear, beauty products, gold jewelry, eyewear, medicines, and handicrafts, in multiple formats like Reliance Fresh, Digital, Trends, and MyJio. Reliance Retail Premiumization Plan Reliance Retail is focusing on premiumization in apparel and grocery retail. The luxury retail business, managed under Reliance Brands, has different brands like Armani Exchange and Hugo Boss. Premium grocery formats Freshpik and Gofresh were widely accepted. Its value fashion store Trends is being rebranded to attract younger consumers, with the help of the latest technology similar to its Azorte format. Reliance Retail Q4 Results In the March quarter, Reliance Retail saw over 2.4 times growth in terms of the number of orders, which is a significant scale-up, said its CFO Dinesh Taluja during the earnings call earlier this week. 'And we are seeing very strong traction with a 2.4x quarter-over-quarter growth in daily exit orders. And this number will scale up substantially in the coming year as well. We are also starting to proactively market this proposition, our proposition of no hidden charges, quick delivery, and no delivery fees continues to resonate very well with the customers,' said Taluja. Reliance covers hyper-local deliveries, a sub-30-minute delivery, at 4,000 pin codes across the country through its network of existing stores, which has a much wider reach than any other quick commerce player in the country. Through its JioMart app, Reliance Retail is offering quick and scheduled deliveries, which currently has three types of services. There is an under-30-minute quick service, and second is a scheduled delivery, where the assortment is much wider, and then there is a subscription service, where a customer can subscribe and everyday goods are delivered at doorsteps early morning. 'All three are picking up very well. The average daily orders were up 62 per cent on a Y-o-Y basis,' he said, adding, 'Specifically, our under 30-minute offering, which has the widest network reach. We have almost 2,000-plus stores which are on the network, covering more than 4,000 plus pin codes. So this is much wider reach than any other quick commerce player. We have kind of re-pivoted our model completely to under 30 minutes delivery. 'There are some dark pockets where we will set up dark stores also, wherever there is a genuine requirement, there is enough volume and we cannot service it within 30 minutes, we may set up some dark stores as well. So that is on the quick commerce side of it. 'Our stores, purely on a standalone basis, are seeing double-digit like for like growth for last several quarters. So stores are also growing pretty rapidly. We are not seeing that impact either in metro or in any other city,' he said. Similarly, for its online fashion business Ajio, Reliance Retail has launched same-day and next-day delivery across 26 cities. 'So, we are increasing the speed at which we are able to deliver the products,' he said. (With Inputs From PTI)
