Mukesh Ambani, owner of Reliance Industries (RIL), on Thursday said that Reliance Retail will launch a new hybrid online-offline commerce platform that will re-define retailing in India.

We will see the maximum scope in creating a unique online-to-offline platform and this will be done by combining the resources of Reliance Retail and Jio's digital infrastructure, said Ambani.

Addressing the shareholders in the 41st annual general meeting (AGM), Ambani expects Reliance Retail to become bigger, better and more profitable ahead.

Reliance Retail has emerged as a preferred partner of choice for international players as well the highest seller of garments in India.

Ambani said that Reliance Retail has received over 350 million footfalls last year from 7,500 stores across 4,400 cities and revenues crossed Rs 69,000 crore, a growth of over 100% year-on-year.

Reliance Digital is now the largest retailer of consumer electronics in India, he added.

Disclosure:

RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

First Published:Jul 5, 2018 1:38 PM IST