Ever since Mukesh Ambani took control of Reliance Industries Limited, the company has been growing from strength to strength. What’s more, the industry giant has diversified into various sectors and their entry in the same has been successful. One of the biggest success stories from the RIL camp is their convenience store chain – Reliance Fresh. The store was first launched in October 2006 and since expanded to various cities at breakneck speed. Reliance’s Rs. 25,000 crore retail foray has made waves with its ambitious plans and its vast range of offering at a customer-friendly price.
One of India’s largest chains of convenience stores, Reliance Fresh has been named among the top 20 trusted service brands in India. Ranking at number 17, ahead of other industry giants such as Dominos Pizza, McDonalds, Café Coffee Day and other big name brands such as ICICI Bank and HDFC Bank; this is clearly a sign of the brand’s growth and acceptance by the citizens of India. When it was first launched, critics were skeptical about what kind of margins the chain would deliver. However, the stores have not only exceeded expectations but have given great returns. So much so that new stores are being opened at a brisk pace and the chain is now concentrating on becoming a one-stop store with presence across all the major towns and cities in India.
Reliance Fresh has gained in rankings as compared to the previous year. It was listed at number 23 in the 2012 list of Most Trusted Brands. It has climbed to number 17 in the 2013 rankings. This is due to a number of factors. First, the sheer revenue generated from these stores. Reliance Retail has a number of chains. As a whole, Reliance Retail had a turnover of Rs. 10,800 crores in the financial year 2012-13. Approx. 56 per cent of this revenue came from its ‘value and other’ segment that operates grocery chains Reliance Fresh. Reliance Retail has announced revenues of Rs. 3,474 crore for the first quarter of 2013, showing 53% jump from 2012. More than anything, based on its core growth strategy of backward integration, RRL has made rapid progress toward building an entire value chain starting from the farmers to the end consumers.
As a result of ambitious growth, a policy of customer-comes-first and a view to ensure that people at the grassroots viz., the farmers and producers get their due share, Reliance Fresh has emerged as a brand possessing high integrity and a customer-centric focus. A big part in the success story has been played by Nita Ambani. The wife of RIL’s MD and CEO, MukeshAmbani has always looked at giving back to society and contributing constructively. She with her children, Isha, Akash and Anant are one India’s most successful business families and are leading the way in showing how traditional business powerhouses can make a difference.