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Bullish on retail, eyeing wholesale

Reliance Retail will soon enter the wholesale cash-and-carry business as the company set its sights on consumer-friendly businesses as its next engines of growth.

business Updated: Jun 03, 2011 20:29 IST
HT Correspondent

Reliance Retail will soon enter the wholesale cash-and-carry business as the company set its sights on consumer-friendly businesses as its next engines of growth.

“Reliance Retail will soon launch a cash-and-carry format that is built on the principle of offering inclusive growth to all our retailer partners,” RIL chairman Mukesh Ambani said at the company’s AGM on Friday.

Ambani said the move was aimed at sharing benefits of strong sourcing capabilities and relationships with a large network of vendors.

Reliance Retail, he said, has already become India’s largest food retailer, and all of its specialty formats would attain top positions in their respective segments in next two years.

He said further growth was expected in retail on the back of new investments.