Question Bank - Banking & Financial Services

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Which company has become the first Indian retail company to cross the annual revenue of Rupees one lakh crore?

A.
Titan Company Ltd.
B.
Shoppers Stop Ltd.
C.
Aditya Birla Retail Ltd.
D.
Reliance Retail Ltd.

Solution:

The correct answer is Reliance Retail Ltd. Reliance Retail has been the first Indian retailer to produce more annual sales than Rs 1 lakh crore. Reliance Industries retail company posted sales of Rs 1,30,556 crore for 2018-19, 89% more than the previous year's Rs 69,198 crore. It also became the first Indian supermarket to cross over more than 10,000 stores. Notably, Reliance Retail is the only Indian retailer to be listed among the top 100 global retailers and the sixth fastest rising retailer in the world as per Deloitte's 2019 Global Retail Forces. Important PointsMukesh Ambani has led Reliance Retail to become the first Indian retailer to enter more than 10,000 shops. It runs 10,415 retail stores in more than 6,600 cities and towns, serving an area of more than 22 million square feet as of 31 March. Compared to this, Future Company, the country's second-largest retailer, operates about 2,200 outlets nationally, with an annual combined turnover of approximately Rs 35,000.

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