August 29, Mumbai: Speaking to shareholders during Reliance Industries’ virtual Annual General Meeting on Monday, Reliance Retail’s Director Isha Ambani announced that the company will establish an FMCG (Fast Moving Consumer Goods) business this year.
“The goal of this FMCG business is to design and provide items that fulfil every Indian’s everyday requirements with high-quality products at a reasonable price,” Isha Ambani explained.
“We will soon begin retailing excellent items created by tribals and other marginalised communities across India as part of our commitment to India’s rich culture and legacy,” she said.
Reliance Retail set a record of Rs 2 lakh crore in turnover and Rs 12,000 crore in EBITDA (earnings before interest, taxes, depreciation, and amortisation).
