Despite difficult and constrained operating conditions, Reliance Retail continued to outperform the industry. The company opened 1,500 new locations, making us the largest retailer to do so during this time period, bringing our total store count to 12,711. The top position is being maintained and strengthened.
The retail sector's strength will spur growth throughout the value chain, from raw material producers to large and small manufacturers, from logistics service providers to merchants, and finally to consumers. In order to extend this circle of shared wealth, Reliance will focus on the following five important measures:
To begin, Reliance will increase our investment in research, design, and product development. They will establish design, research, technology, and innovation centres in important places across the world and in the United States in the coming year to produce differentiated offerings for the varied consumer base.
The company will engage closely with producers, MSMEs, service providers, and local and international brand corporations to build the sourcing ecosystem. It make them partners in the value creation journey that the New Commerce model aspires to achieve.
The company is investing in India's supply chain infrastructure by connecting all-important source and consumer points. This will increase supply chain efficiencies and reduce losses, allowing us to share the benefits with both customers and producers. Reliance will be able to transport products everywhere in the country in the shortest amount of time thanks to an automated, flexible, reliable, and scalable storage and logistics network.
The company aims to triple its store footprint this year and over the following few years by establishing co-located delivery hubs. They will create a robust network that will connect and service millions of merchants and customers.
Reliance will continue to acquire businesses in order to improve our customer offering and experience, hone our omni-channel capabilities, improve operational efficiencies, and expand our talent pool. Leading physical/digital commerce systems like Netmeds, Urban Ladder, and Zivame have recently been acquired.