Reliance Retail: Mukesh Ambani all set to Realize his Retail Dream
Mukesh Ambani led Reliance Retail Limited, a retail subsidiary from the house of Reliance Industries Limited (RIL), is eyeing multilateral growth in its retail processes, as new management is all set to take charge of the prolific arm. The new management team at Reliance Retail will commence operations from next month with a primary target of making the business more profitable.
Rob Cissell and Shwan Gray have stepped into the Reliance format and these ex Wal-mart China execs will be taking over as chief executive officer (CEO) and chief operating officer (COO) of the Reliance Retail business respectively.
Major focus will be emphasized on FMCG and consumer electronics and durables business and cash and carry segment. These core focus areas are expected to turnaround the retail business for Reliance considerably in the near future. Reliance Retail has been in the process of restructuring of the entire value chain and the new management is expected to gradually improve upon and make lucrative the big format of Reliance Retail.
Reliance Retail currently operates over 90 value and specialty stores, including value formats such as Reliance Fresh and Reliance Mart and specialty formats including Reliance Digital, Reliance TimeOut, Reliance Footprint, Reliance Trends and Reliance Jewels. The new management is required tweak the current processes for these formats in an effort to encourage large profit margins.
Mukesh Ambani had announced his plans of realizing the ‘mega dream of retail’ to his shareholders in his last AGM, and entry of proficient executives from Wal-Mart China, Mukesh Ambani hopes to revive his retail segment.
Tags: Mukesh Ambani , Reliance , Reliance Industries , RIL , Retail
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