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The retail arm of Reliance Industries has rapidly scaled its business-to-business (B2B) outlets store count after acquiring the India operations of METRO Cash & Carry, taking its store count to over 200 with a presence in over 180 cities.
It added 30 stores during the April-June quarter, it said in its investor presentation post announcing its results on Friday.
Towards the end of 2022, Reliance Retail had said that it acquired METRO Cash & Carry India for a total cash consideration of Rs 2,850 crore. The cash-and-carry brand then had only 31 large-format stores across 21 cities.
“With the METRO Cash & Carry India acquisition, we have managed to create an omnichannel offering for the B2B segment,” a source in the know said and added that its customers, who are primarily retailers, can now shop on its app and also its stores.
Earlier, Reliance ran JioMart B2B before acquiring METRO Cash & Carry India.
The source also added, “The expanded B2B implies robust sourcing and distribution.” Post its earnings, the company said in its release that it continued investments in stores, platform enhancements, product design, and sourcing capabilities to further strengthen the value proposition to the customers. These initiatives will help sustain growth momentum in the near and medium term.
It also said that its grocery new commerce business continued to expand its kirana partner base as its METRO Cash & Carry format scaled with 30 new stores in the quarter.
When it acquired the German retailer’s cash-and-carry operations in India, the wholesalers reached over 3 million B2B customers in India, of which 1 million were frequently buying customers, through its store network and eB2B app.
First Published: Jul 21 2024 | 6:25 PM IST
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