Retail in Asia

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India’s Reliance Retail aiming 5-6 times revenue growth

Aiming to make consumer businesses a key part of the business, industrialist Mukesh Ambani on Thursday said that the group’s retail venture was aiming to grow its revenue 5-6 times and achieve sales of INR40,000-50,000 crore (INR400 billion-500 b, USD7.29b-9.12b) in the next three to four years.

"We are investing aggressively in this business (Reliance Retail)… We are targeting 5-6 times of existing revenue and achieve sales of INR40,000-50,000 crore and would turn profitable within this time period," Ambani told Reliance Industries’ shareholders at their Annual General Meeting.

He further said that Reliance Retail will be one of the important growth drivers for the group.