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The retail arm of Reliance Industries has quickly scaled its business-to-business (B2B) retailers retailer depend after buying the India operations of METRO Money & Carry, taking its retailer depend to over 200 with a presence in over 180 cities.
It added 30 shops in the course of the April-June quarter, it stated in its investor presentation put up saying its outcomes on Friday.
In direction of the top of 2022, Reliance Retail had stated that it acquired METRO Money & Carry India for a complete money consideration of Rs 2,850 crore. The cash-and-carry model then had solely 31 large-format shops throughout 21 cities.
“With the METRO Money & Carry India acquisition, we now have managed to create an omnichannel providing for the B2B section,” a supply within the know stated and added that its clients, who’re primarily retailers, can now store on its app and in addition its shops.
Earlier, Reliance ran JioMart B2B earlier than buying METRO Money & Carry India.
The supply additionally added, “The expanded B2B implies sturdy sourcing and distribution.” Put up its earnings, the corporate stated in its launch that it continued investments in shops, platform enhancements, product design, and sourcing capabilities to additional strengthen the worth proposition to the purchasers. These initiatives will assist maintain development momentum within the close to and medium time period.
It additionally stated that its grocery new commerce enterprise continued to develop its kirana companion base as its METRO Money & Carry format scaled with 30 new shops within the quarter.
When it acquired the German retailer’s cash-and-carry operations in India, the wholesalers reached over 3 million B2B clients in India, of which 1 million had been regularly shopping for clients, by its retailer community and eB2B app.
First Printed: Jul 21 2024 | 6:25 PM IST
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