Latest news with #RelianceRetailVenturesLtd
Hans India
19-07-2025
- Business
- Hans India
RelRetail buys Kelvinator
New Delhi: Reliance Retail on Friday announced the acquisition of consumer durables brand Kelvinator in a bid to accelerate its growth in the rapidly expanding premium home appliances market across company, however, did not disclose the financial details of the transaction. The acquisition is poised to significantly amplify the company's leadership in India's fast-growing consumer durables sector, Reliance Retail said in a statement. 'The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers. This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network,' Reliance Retail Ventures Ltd Executive Director Isha M Ambani said. She further said, 'This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network.' By integrating Kelvinator's rich legacy of innovation with Reliance Retail's expansive retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market across India, Reliance Retail said. This synergy will ensure that high-quality, globally-benchmarked products are accessible to every Indian household, enhancing their daily lives, it added. For over a century, Kelvinator pioneered electric refrigeration for home use globally. In India, it achieved iconic status in the 1970s and 80s with its memorable tagline, ''The Coolest One'' and continues to be revered for its cutting-edge technology, superior performance, enduring quality, and exceptional value, the statement added.
Mint
18-07-2025
- Business
- Mint
Reliance Retail Q1 results: Profit jumps 28.3% to ₹3,271 crore
New Delhi: Reliance Retail Ventures Ltd, Reliance Industries Ltd's retail arm, on Friday reported a consolidated profit of ₹ 3,271 crore for the April-June first quarter, up 28.3% from a year ago. Revenue from operations grew 11.3% year-on-year to ₹ 73,720 crore. Reported ebitda at ₹ 6,381 crore was up 12.7% year-on-year, while ebitda margin improved further by 20 bps year-on-year to 8.7%. Ebitda, a measure of core operations, stands for earnings before interest, taxes, depreciation, and amortization. Reliance Retail operates across categories such as grocery, consumer electronics, fashion and lifestyle, and online commerce. All segments performed well, with market leading performance in grocery and fashion. Consumer electronics and devices, however, were impacted due to the early onset of monsoons, the company said in a statement Friday. Reliance Retail expanded its store network with 388 new store openings during the first quarter, taking its total store count to 19,592. Its area under operation at 77.6 million in the first quarter was up marginally from the preceding March quarter but down 4.6% year-on-year. Online commerce platform, JioMart, continued to expand quick hyperlocal deliveries, registering a 175% year-on-year growth in daily orders during the first quarter. '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,' Isha M. Ambani, executive director, Reliance Retail, said. The company's fashion and lifestyle business witnessed growth in first-quarter revenue and ebitda driven by new store formats and strong performance of its in-house brands. The company's consumer electronics business reported overall growth, but sales of air conditioners were impacted due to the early onset of monsoon. Reliance Retail on Friday also announced the acquisition of the home appliances brand Kelvinator for India from the Swedish manufacturer Electrolux AB after holding manufacturing and distribution rights for the brand since 2019. The company's online fashion platform, AJIO, launched Rush, its 4-hour delivery service, during the first quarter. The service is live in six cities, matching rivals such as Myntra that also offer quick deliveries. The brand's Luxe platform continued to grow and launched several brands during the quarter, taking its portfolio to 875 brands. 'With faster deliveries, the initiative will further improve customers' shopping experience on the platform. The initiative is delivering better unit economics driven by higher average bill value and lower returns,' Reliance Retail said.
India.com
18-07-2025
- Business
- India.com
Good news for Mukesh Ambani, Isha Ambani, this company earns Rs 32710000000 as…, India's richest man says…
Reliance Retail Ventures Ltd (RRVL), the retail arm of Mukesh Ambani-led Reliance Industries, reported a 28.3% year-on-year increase in profit after tax, reaching Rs 3,271 crore for the quarter ended June 30, 2025. This growth was driven by strong revenue performance across all segments. In the same quarter last year, the company had posted a profit after tax of Rs 2,549 crore, as per Reliance Industries Ltd's (RIL) regulatory filing. Gross revenue for Q1 FY26 stood at Rs 84,171 crore, marking an 11.3% rise from Rs 75,615 crore in the corresponding period of the previous fiscal. Reliance Retail's Revenue Reliance Retail's revenue from operations in the first quarter was at Rs 73,720 crore compared to Rs 66,260 crore in the year-ago period, up 11.3 per cent. All segments performed well, with market leading performance in grocery and fashion. Consumer electronics and devices were impacted because of early onset of monsoons, but recovery is underway, the company said. In the quarter, the retail business expanded its store network with 388 new store openings, taking the total store count to 19,592 with area under operation at 77.6 million sq. ft. 'The registered customer base grew to 358 million, making Reliance Retail one of the most preferred retailers in the country,' it said, adding that JioMart continued to expand quick hyper-local deliveries registering 68 per cent Q-o-Q growth and 175 per cent Y-o-Y growth of daily orders. Mukesh Ambani, Isha Ambani On Reliance Retail Performance 'Retail's business … customer base expanded to 358 million, along with significant improvement across operating metrics. We are focusing on strengthening the portfolio of our own FMCG brands, which resonate with the tastes of Indian consumers,' Reliance Industries Ltd Chairman and Managing Director Mukesh D. Ambani said. He further said, 'Our retail business continues to enhance its ability to fulfil everyday as well as specialized needs of all customer cohorts, through a multi-channel approach.' Commenting on the performance, Reliance Retail Ventures Ltd Executive Director, Isha M. Ambani said, 'Reliance Retail delivered resilient performance during this quarter, driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility.' In the consumer electronics segment, Reliance Retail said the business achieved steady growth, driven by an average bill value growth, up 26 per cent. However, AC sales were impacted due to early onset of monsoon. JioMart Digital business delivered strong growth, led by expansion of its brand portfolio and merchant partner base. The acquisition of Kelvinator brand IP for India will strengthen its own brands play across categories in consumer durables, it added. (With Inputs From PTI)
Mint
18-07-2025
- Business
- Mint
Reliance Retail Q1 results: Profit jumps 28.3% to ₹3,271 crore
New Delhi: Reliance Retail Ventures Ltd, Reliance Industries Ltd's retail arm, on Friday reported a consolidated profit of ₹ 3,271 crore for the April-June first quarter, up 28.3% from a year ago. Revenue from operations grew 11.3% year-on-year to ₹ 73,720 crore. Reported ebitda at ₹ 6,381 crore was up 12.7% year-on-year, while ebitda margin improved further by 20 bps year-on-year to 8.7%. Ebitda, a measure of core operations, stands for earnings before interest, taxes, depreciation, and amortization. Reliance Retail operates across categories such as grocery, consumer electronics, fashion and lifestyle, and online commerce. All segments performed well, with market leading performance in grocery and fashion. Consumer electronics and devices, however, were impacted due to the early onset of monsoons, the company said in a statement Friday. Reliance Retail expanded its store network with 388 new store openings during the first quarter, taking its total store count to 19,592. Its area under operation at 77.6 million in the first quarter was up marginally from the preceding March quarter but down 4.6% year-on-year. Online commerce platform, JioMart, continued to expand quick hyperlocal deliveries, registering a 175% year-on-year growth in daily orders during the first quarter. '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,' Isha M. Ambani, executive director, Reliance Retail, said. The company's fashion and lifestyle business witnessed growth in first-quarter revenue and ebitda driven by new store formats and strong performance of its in-house brands. The company's consumer electronics business reported overall growth, but sales of air conditioners were impacted due to the early onset of monsoon. Reliance Retail on Friday also announced the acquisition of the home appliances brand Kelvinator for India from the Swedish manufacturer Electrolux AB after holding manufacturing and distribution rights for the brand since 2019. The company's online fashion platform, AJIO, launched Rush, its 4-hour delivery service, during the first quarter. The service is live in six cities, matching rivals such as Myntra that also offer quick deliveries. The brand's Luxe platform continued to grow and launched several brands during the quarter, taking its portfolio to 875 brands. 'With faster deliveries, the initiative will further improve customers' shopping experience on the platform. The initiative is delivering better unit economics driven by higher average bill value and lower returns,' Reliance Retail said. The company's fast-fashion brand, Shein, continued to receive strong traction and has crossed 2 million app downloads. Premium brands business continued to lead the segment with the widest portfolio of brands.
The Hindu
03-07-2025
- Business
- The Hindu
Reliance Retail picks up minority stake in U.K.'s FACEGYM
Reliance Retail Ventures Ltd. (RRVL) has announced a minority investment in U.K.-based FACEGYM, which is into facial fitness and skincare, for an unspecified amount. The firm approaches skincare by combining non-invasive facial workouts with advanced skincare formulations. Through this investment, Reliance Retail's Tira will spearhead FACEGYM's India foray – leading its local operations and market development, bringing the brand's concept to Indian consumers. Reliance said it will establish and scale FACEGYM's presence in India over the next five years, through a mix of standalone studios and curated spaces within select Tira stores across key cities. Bhakti Modi, co-founder & CEO of Tira, said, 'FACEGYM sits at the unique intersection of beauty, wellness, and fitness – creating a category of its own. This aligns perfectly with beauty consumer in India.' Angelo Castello, CEO of FACEGYM, said, 'With our current strategic partnerships, we are in a powerful position to turn FACEGYM into one of the only beauty services that exists with this size of global footprint – launching in new markets, and sculpting more people than ever before with our unique approach to facial fitness and skin health.'
