Latest news with #RRVL
Indian Express
09-05-2025
- Business
- Indian Express
The Shein comeback: A masterclass in India's ad-hoc tech governance
In 2020, the Indian government banned Shein along with dozens of other Chinese apps under Section 69A of the IT Act, citing national security concerns amid escalating border tensions. The message was clear: Foreign platforms that imperil Indian users' data sovereignty have no place in the country's digital ecosystem. Fast forward to 2025, and Shein is staging a dramatic return — this time, hand-in-hand with Reliance Retail Ventures Limited (RRVL), one of India's largest corporate powerhouses. Shein's re-entry, facilitated through this domestic partnership, is being sold as an economic opportunity wrapped in a data localisation bow. RRVL will reportedly oversee all data collection, storage, and processing, ostensibly placing Shein's compliance within the bounds of India's evolving digital rules. But behind the corporate gloss lies a deeper unease: Has India just walked back its principled stand on data sovereignty, without any public deliberation or legal scrutiny? Executive Fiat as Tech Policy When the ban on Shein was first imposed, it was described as being in the national interest by invoking Section 69A of the Information Technology Act, 2000. But the ban's reversal has played out far from public view. The decision to allow Shein to return to India is not the result of a process recognised under the Information Technology Act, a parliamentary discussion, a structured inter-ministerial process or a judicial order. A ministerial reply in Parliament, indicating that the Ministry of Electronics and Information Technology 'raised no objections' on this issue, is in sharp contrast to the way in which public discourse was shaped when the order was issued. Compare this to the United States. There, TikTok has been at the centre of a high-stakes legislative and judicial tug-of-war. Congress held open hearings, considered operational restructuring, and passed legislation requiring a sale or ban, and there is direction from the Supreme Court of the United States measuring the free speech implications of this decision as well. Whatever its flaws, the US approach centres democratic process and public reasoning. This raises important questions. Are we crafting long-term digital policy or merely responding to global tech volatility with short-term executive deals? And how do we differentiate between strategic national interest and corporate accommodation? The Mirage of Localisation India's data protection law, the DPDPA, has yet to notify its Rules. Nonetheless, Shein's return is being presented as a milestone for data localisation. But it's worth asking: Does this signal a broader systemic commitment, or is it a pragmatic arrangement shaped by the current political and commercial landscape? With Reliance positioned as the domestic partner responsible for data compliance, one might wonder whether similar pathways could emerge for other foreign platforms seeking to re-enter or expand in India. In effect, localisation is being advanced through partnership models, even as the supporting legislative framework remains incomplete. Ironically, even if the legislation framework were to be complete, it does not recognise the process adopted in this scenario. While this may reflect strategic flexibility, it also raises questions about regulatory clarity and the role of institutional oversight. Relying on private actors to fulfill what are essentially public policy objectives introduces ambiguity about how such goals are defined, enforced, and made accountable to citizens. What We Should Be Asking Shein's return offers us an opportunity — if we are willing to take it — to reflect on the future of India's tech governance. Three critical questions emerge: One, where is the user in all this? No market study has been commissioned to assess the impact of Shein's ban or re-entry on consumer's digital safety, when the grounds for banning were based on a threat to it. Don't such processes disenfranchise citizens even further at a time when the digital citizen demands more empowerment? Two, are executive orders replacing oversight? If bans and re-entries are governed solely through such arrangements, where is the space for public dialogue and legislative or judicial scrutiny? Three, what precedent does this set for the market? Will the Reliance-Shein playbook become a new template for re-entry for tech giants in India? Already in a flux due to the unenforced data protection law, how will tech companies (the default modern custodians of our data and our free speech) accommodate this new re-entry point/backup in how they operate in India? India's digital landscape is growing not only in scale but in complexity. The decisions we make now — on data, platforms, governance — will shape the architecture of our digital future. If tech policy is to retain legitimacy, it cannot be built on opaque reversals and private assurances. The writer is Research Fellow at Vidhi Centre for Legal Policy
India.com
27-04-2025
- Business
- India.com
Monthly salary of Mukesh Ambani and Nita Ambani's daughter Isha Ambani...is Rs..., her car collection includes...
Mukesh Ambani has a net worth of $92.1 billion, he ranks as the 17th richest person in the world, according to the Bloomberg Billionaires Index. Her daughter, Isha M. Ambani, is a part of the executive leadership teams as a Member of the Board at Reliance Retail Ventures Limited, Reliance Jio Infocomm Limited, Jio Financial Services Limited and Reliance Foundation (RF), Reliance Foundation Institution of Education and Research, and Dhirubhai Ambani International School. Isha M. Ambani has spearheaded multiple Diversity & Inclusion (D&I) initiatives at Reliance including the formation of a Group-wide D&I Council to provide strategic guidance and a clear roadmap to foster a more equitable and inclusive ecosystem for all. Going by the several media reports, Isha Ambani's monthly salary is believed to be around Rs 35 lakh, excluding any earnings from dividends. This means the entrepreneur's annual income, without considering dividends, would be approximately Rs 4.2 crore. Furthermore, Celebrity Net Worth estimates her overall net worth at $100 million, which is about Rs 829.5 crore. Isha Ambani-led Reliance Retail is worth Rs 8,361 lakh crore, according to Money Control. By equity valuation, this places RRVL among the top four corporations in India. With 18,500 locations and digital commerce platforms covering the four main consumer baskets of groceries, consumer electronics, fashion and lifestyle, and pharmaceuticals, Reliance Retail is India's largest retailer, serving 26.7 crore customers. This includes, among many others, AJIO, Tira, Dunzo, Netmeds, Reliance Digital, and Reliance Trends. Isha Ambani announced at the Reliance AGM 2023 that RRVL is one of the top 10 most frequented retailers in the world, with more than 78 crore visitors to their stores each year. Isha M. Ambani graduated from Yale University with a double major in Psychology and South Asian Studies and is also an MBA from Stanford University. Isha Ambani-led Reliance Retail is worth Rs 8,361 lakh crore, according to Money Control. By equity valuation, this places RRVL among the top four corporations in India. With 18,500 locations and digital commerce platforms covering the four main consumer baskets of groceries, consumer electronics, fashion and lifestyle, and pharmaceuticals, Reliance Retail is India's largest retailer, serving 26.7 crore customers. This includes, among many others, AJIO, Tira, Dunzo, Netmeds, Reliance Digital, and Reliance Trends. Isha Ambani announced at the Reliance AGM 2023 that RRVL is one of the top 10 most frequented retailers in the world, with more than 78 crore visitors to their stores each year. 'Isha Ambani boasts an impressive car collection, which includes the Porsche Cayman S, Bentley Arnage R, Rolls Royce Cullinan, BMW 7 Series, and Mercedes-Benz S-Class.'
Mint
25-04-2025
- Business
- Mint
Reliance consumer goods arm reports ₹11,450 crore revenue for FY25
New Delhi: Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), reported revenues of ₹ 11,450 crore for FY25 on Friday, topping those of some large competitors. 'Business (FMCG) continued to expand its reach through general trade leading to 3.5x year-on-year growth in sales during the period. The business launched sports drink 'Spinner' and acquired personal care brand 'Velvette' during the quarter to strengthen its product portfolio. The brand is enhancing its salience through targeted marketing and promotional initiatives,' RIL said in its full-year and March-quarter earnings. Beverage brand Campa partnered with JioStar as a co-sponsor for IPL 2025 and secured exclusive pouring rights for all home matches of the Indian cricket team. In its previous quarterly earnings the company had said Campa and Independence were each projected to cross ₹ 1,000 crore in turnover in FY25. RCPL reported revenues of ₹ 8,000 crore in the first nine months of FY25. RIL entered the FMCG market in 2022, and has launched several brands and pursued mergers and acquisitions over the past two years. It now has a presence across a range of daily essential categories. Its brands include Glimmer and Puric soaps, Dozo dish wash bars and liquids, Independence staples such as flour, rice and edible oil, HomeGuard toilet and floor cleaners, and Enzo laundry detergent powder, liquid and bars. It has also invested in old and nearly obsolete brands and revived them with fresh packaging and marketing. These include Campa, Sil (sauces and condiments), personal care brand Velvette, and Ravalgaon's confectionery business. In 2023, RCPL partnered with Sri Lankan biscuit brand Maliban; it also acquired a 50% stake in beverage brand Sosyo Hajoori. However, it is yet to achieve national scale, which is crucial for a successful FMCG business. Mint recently reported that RCPL would take another three or four years to distribute its products nationally. The company is also expected to roll out more products over the next 12-18 months. RCPL's distribution network includes between 120,000 and 700,000 outlets, depending on the type of product, covering 30-35% of markets in India. The company ended the fiscal year with a total reach of one million outlets. It aims to expand this 5-6 million outlets in three years, Mint reported in March, citing sources. To be sure, India already has large foreign and homegrown FMCG companies such as Godrej Consumer Products (GCPL), Marico Ltd, Dabur, Nestle and Hindustan Unilever. GCPL reported revenues of ₹ 6,725.27 crore for the nine months to 31 December 2024. It is yet to report full-year numbers. Overall, RRVL reported a 15.7% jump in March-quarter revenues to ₹ 88,620 crore. Operational Ebitda came in at ₹ 6,510 crore, a 14.6% year-over-year year-on-year increase, resulting in an 8.3% margin. For the March quarter RRVL reported a profit of ₹ 3,545 crore, up 29% from a year ago. For the full year, RRVL recorded gross revenue of ₹ 330,870 crore, up 7.9% from last year. The business continued its strong track record of profit growth, registering Ebitda of ₹ 25,053 crore for FY25, up 8.6% year-on-year. The business, which operates across e-commerce, lifestyle retail, apparel, consumer electronics, grocery and consumer goods, reported a 11.3% jump in FY25 profit to ₹ 12,388. RRVL increased its store count by 2,659 during the year, taking its total to 19,340. However, owing to store rationalisation, the total store area under operations shrunk to 77.4 million sq ft from 79.1 million sq ft a year ago. The registered customer base expanded to 349 million in FY25, a 14.8% year-over-year increase. During the quarter, the business opened 1,085 new stores.
Time of India
25-04-2025
- Business
- Time of India
Reliance Retail Q4 results: Net profit rises 29% to Rs 3,545 crore
NEW DELHI: Reliance Retail Venture Ltd (RRVL), the retail division of Reliance Industries on Friday reported a 29.1% rise in net profit to Rs 3,545 crore for the March quarter of FY25. Tired of too many ads? go ad free now The company's gross revenue also increased by 15.65%, reaching Rs 88,620 crore. For the financial year ending March 2025, the gross revenue increased by 7.85 per cent to Rs 3,30,870 crore, whilst profit after tax rose by 11.33 per cent to Rs 12,388 crore. The company's regulatory filing indicated that in the January-March quarter of the previous year, it had recorded a gross income of Rs 76,627 crore and profit after tax of Rs 2,746 crore. The latest March quarter showed Reliance Retail's operational revenue increased by 16.3 per cent to Rs 78,622 crore, compared to Rs 67,610 crore in the corresponding quarter of the previous year. Digital and new commerce channels contributed 18 per cent of Reliance Retail's total revenue in the March quarter, demonstrating growth in these contemporary business streams. The country's leading retailer achieved a 14.3 per cent increase in pre-tax profit (EBITDA) to Rs 6,711 crore during the March quarter of FY25. Despite opening 2,659 new stores in FY25, store rationalisation resulted in a total of 19,340 stores covering 77.4 million sq ft as of March 31. Reliance Retail's customer base grew by 14.8 per cent year-on-year to 349 million in FY25, with total transactions increasing by 10.6 per cent to 1.39 billion annually.
Mint
25-04-2025
- Business
- Mint
Reliance consumer goods arm reports ₹11,450 crore revenue for FY25
New Delhi: Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), reported revenues of ₹ 11,450 crore for FY25 on Friday, topping those of some large competitors. 'Business (FMCG) continued to expand its reach through general trade leading to 3.5x year-on-year growth in sales during the period. The business launched sports drink 'Spinner' and acquired personal care brand 'Velvette' during the quarter to strengthen its product portfolio. The brand is enhancing its salience through targeted marketing and promotional initiatives,' RIL said in its full-year and March-quarter earnings. Beverage brand Campa partnered with JioStar as a co-sponsor for IPL 2025 and secured exclusive pouring rights for all home matches of the Indian cricket team. In its previous quarterly earnings the company had said Campa and Independence were each projected to cross ₹ 1,000 crore in turnover in FY25. RCPL reported revenues of ₹ 8,000 crore in the first nine months of FY25. RIL entered the FMCG market in 2022, and has launched several brands and pursued mergers and acquisitions over the past two years. It now has a presence across a range of daily essential categories. Its brands include Glimmer and Puric soaps, Dozo dish wash bars and liquids, Independence staples such as flour, rice and edible oil, HomeGuard toilet and floor cleaners, and Enzo laundry detergent powder, liquid and bars. It has also invested in old and nearly obsolete brands and revived them with fresh packaging and marketing. These include Campa, Sil (sauces and condiments), personal care brand Velvette, and Ravalgaon's confectionery business. In 2023, RCPL partnered with Sri Lankan biscuit brand Maliban; it also acquired a 50% stake in beverage brand Sosyo Hajoori. However, it is yet to achieve national scale, which is crucial for a successful FMCG business. Mint recently reported that RCPL would take another three or four years to distribute its products nationally. The company is also expected to roll out more products over the next 12-18 months. RCPL's distribution network includes between 120,000 and 700,000 outlets, depending on the type of product, covering 30-35% of markets in India. The company ended the fiscal year with a total reach of one million outlets. It aims to expand this 5-6 million outlets in three years, Mint reported in March, citing sources. To be sure, India already has large foreign and homegrown FMCG companies such as Godrej Consumer Products (GCPL), Marico Ltd, Dabur, Nestle and Hindustan Unilever. GCPL reported revenues of ₹ 6,725.27 crore for the nine months to 31 December 2024. It is yet to report full-year numbers. Overall, RRVL reported a 15.7% jump in March-quarter revenues to ₹ 88,620 crore. Operational Ebitda came in at ₹ 6,510 crore, a 14.6% year-over-year year-on-year increase, resulting in an 8.3% margin. For the March quarter RRVL reported a profit of ₹ 3,545 crore, up 29% from a year ago. For the full year, RRVL recorded gross revenue of ₹ 330,870 crore, up 7.9% from last year. The business continued its strong track record of profit growth, registering Ebitda of ₹ 25,053 crore for FY25, up 8.6% year-on-year. The business, which operates across e-commerce, lifestyle retail, apparel, consumer electronics, grocery and consumer goods, reported a 11.3% jump in FY25 profit to ₹ 12,388. RRVL increased its store count by 2,659 during the year, taking its total to 19,340. However, owing to store rationalisation, the total store area under operations shrunk to 77.4 million sq ft from 79.1 million sq ft a year ago. The registered customer base expanded to 349 million in FY25, a 14.8% year-over-year increase. During the quarter, the business opened 1,085 new stores. Isha M. Ambani, executive director, Reliance Retail Ventures Limited, said, 'Reliance Retail delivered strong growth in revenue and profits, powered by improved efficiencies, innovative formats, a sharper product mix, and continued investments in technology and customer experience. We remain focused on shaping the future of retail with agility and purpose". First Published: 25 Apr 2025, 09:31 PM IST
