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Reliance Retail Prepares for Major Changes in the Fashion Industry

Reliance Retail, the retail arm of Reliance Industries Ltd (RIL), is aiming to double its sales over the next three to four years.

Led by Isha Ambani, Reliance Retail operates across diverse segments, including online and offline groceries, electronics, apparel, beauty products, footwear, food, jewellery, and lifestyle.

In the first quarter of FY25, Reliance Retail's revenue increased by 6.6% year-on-year, reaching Rs 66,260 crore.

While groceries and electronics remain key areas of growth, reports suggest that Reliance Retail is shifting its focus towards fashion and lifestyle. The company is set to introduce significant changes in this segment by expanding brands such as Eustace, Asorte, and Gap.

Akhilesh Prasad, President and CEO of Reliance Retail Fashion & Lifestyle, stated that the company will concentrate on increasing its store count and strengthening its digital presence to seize growth opportunities in India's rapidly evolving retail sector.

Earlier this year, Reliance Retail also signed a licensing deal with UK-based fast-fashion retailer ASOS.

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Jeroj

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October 15, 2024

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