Reliance Retail has moved a step ahead for it ecommerce venture – with the beta launch of its fashion and lifestyle website. The venture is likely to go live by fourth quarter-end, reported DNA.
“The curated fashion and lifestyle ecommerce initiative is transitioning from project phase to operational phase through beta testing and has been launched on an invitation-only basis,” said the parent company Reliance Industries Ltd.
“Reliance Retail is building the largest distribution reach for devices in India. The infrastructure encompassing on boarding of trained sales specialists, integrated supply chain and service centres are being made fully operational as part of building 4G ecosystem in the country. The launch of 4G LTE smartphones under ‘LYF’ brand received strong response during the initial rollout phase,” said RIL.
Last year, its physical fashion retail format chain ‘Reliance Trends’ opened 16 new stores. Reliance Retail then recorded a turnover of INR 6,042 Cr in its third quarter in comparison to INR 4,686 Cr during the same period last year; an on-year growth of 29%. Its profit before depreciation, interest and tax (PBDIT) increased 7% at INR 243 Cr in the December 2015 quarter.
Besides, with 3,043 stores across 371 cities in India, it has also become the first retailer in the country to cross 3,000-mark milestone.
With 2 Mn registered members across 37 cities, the Reliance Market store network continued enabling Reliance Retail to enhance its reach to kiranas, traders and institutions as partners across the country. “The contribution of private labels to overall sales increased to 14.6% from 8.6% in the same period last year,” said RIL.
The consumer electronics category, wherein Reliance Retail operates 1,537 stores, registered growth in excess of 50% year-on-year.
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