Mobile phones, consumer electronics lift Reliance Retail

KOLKATA: India’s largest retailer Reliance Retail’s cellphone and consumer electronics retailing business crossed the $5-billion revenue mark in the year to March, underscoring the breadth of its market presence.

Sales in these two categories — which account for about a third of the total — through Reliance Digital and Reliance Jio stores more than doubled to Rs 39,170 crore in FY19 from Rs 15,154 crore in FY18, according to the company’s investor presentation made to analysts.

Reliance attributed the growth to having the largest network of stores and enjoying a first-mover advantage in many cities. New brand introductions in mobile phones and air care (air conditioners, air purifiers and air coolers), such as Lloyd and Godrej, helped the retailer outpace market growth rates across key categories.