Reliance Retail private label offtake begins
NEW DELHI: Reliance Retail (RR) has begun appointing super-stockists to distribute its private label products in multiple FMCG categories, Kotak Securities said in a report.
Reliance Retail already has a wide range of private labels across several entry-level food and non-food FMCG categories and will likely acquire more brands. “We believe own FMCG sales can add a margin layer to the overall Jiomart business”, the report said.
In its AGM held on August 29, 2022, Reliance Retail announced its foray into the FMCG business, by developing and delivering high quality products at affordable pricing.
“We think this move is logical given RR already has a private label portfolio of food (pulses, packaged foods and beverages) and non-food FMCG (home, hygiene and personal care) brands that it has developed over a course of time to serve its widespread own store footprint of 1,713 stores (Fresh + Smart stores as of March 31, 2022,” Kotak Securities said.