Reliance Retail set to grow 3x in 3-5 years: Ambani

New Delhi: Reliance Retail is set to grow three times in the next three to five years, said Reliance Industries NSE -2.35 % chairman and MD Mukesh Ambani. The company, which operates several businesses across categories such as grocery, consumer electronics and pharma, continues to be among the fastest growing retailers in the world and aims to be among the top 10 globally, Ambani said at RIL’s AGM on Thursday.

“Our apparel business sold nearly five lakh units per day and over 18 crore units during the year. This is equivalent to dressing the entire population of the UK, Germany and Spain once,” he said. Ajio, which competes with Walmart-backed Myntra, currently contributes to over 25% of the company’s apparel business.