NEW DELHI: Reliance Jio’s sister concern, Reliance Retail, today claimed that it had sold 1.5 million LYF devices and accessories in the first quarter ended on June 30, 2017.
“Reliance Retail’s device distribution business sold 1.5 million LYF devices and accessories during the quarter,” said Telecom arm of Mukesh Ambani-led Reliance Industires (RIL) while announcing Q1 financial results, which ended on June 30, 2017.
“Our Company recorded yet another strong quarterly performance with net profit of ` 9,108 crore, up 28% Y-o-Y. Our industry leading portfolio of assets in the refining and petrochemicals business contributed to considerable improvement in our earnings for the quarter. Retail business also witnessed accelerated growth momentum with YoY revenue growth of 74%. Jio has revolutionised the Indian telecom and data consumption landscape. This digital services business has been built to address the entire value chain across the digital services domain with smart applications to make life simple, beautiful and secure,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
Reliance Retail recommissioned 17 petro retail outlets during the quarter and now operates 465 outlets.
All petro outlets are fully automated with real time monitoring and control systems. Reliance Retail has implemented daily price change seamlessly across all outlets from day one onwards, ensuring timely and correct price implementation for our customers.
Reliance Retail added 18 stores during 1Q FY18 and operated 3,634 stores across 703 cities with an area of over 13.8 million sqft as on 30th June, 2017.
Consumer electronics basket comprising of Reliance Digital, Jio stores, device distribution and connectivity services delivered strong growth. With nearly 2,000 stores in 700 cities, Reliance Digital and Jio stores continued their dominance in consumer electronics retailing.
Reliance Digital’s dominance in selling large appliances continued during this period. Reliance Digital sold over 800 Air Conditioners every day during the period. One HETV was sold every minute making it a leader in the industry.
Reliance Digital’s ISO certified ResQ arm further enhanced its operations to achieve quicker and efficient turnaround thereby strengthening core value service proposition. ResQ technicians installed over 200 items every hour making more and more families happier.
Fashion and Lifestyle category led by Reliance Trends continued its journey of democratising fashion. Trends surpassed a significant milestone of selling nearly 1 crore garments a month. More than half of its revenues have been contributed by Tier 2 and Tier 3 cities during the quarter.
Project Eve a new store concept positioned in the mid-to-premium segment was launched during the quarter. Project Eve is a unique, one-stop, experiential store concept targeting women in the age group of 25+ and celebrates the spirit of women by serving them with wider fashion and lifestyle offerings, for all occasions, moods and purposes. Project Eve stores also showcase Marks and Spencer’s curated range of lingerie and beauty products through a SIS format, the first ever by Marks and Spencer in India.
Reliance Retail further strengthened its presence through its partnerships during this period. Reliance Retail opened the 33rd Hamley’s store in India making it the largest toy retail chain in the country and a destination for kids of all age groups. Reliance Retail operates more stores in India than the total number of Hamley’s stores across entire Europe.
As part of Reliance Retail 2.0 initiatives, various omni channel initiatives were expanded to offer differentiated experience to the customers. AJIO completed its first anniversary and has emerged as a destination ecommerce platform in a very short span of time. AJIO continues to deliver unique value proposition by offering curated fashion with a perfect blend of own brand assortment, reputed national brands and exclusive international brands.