The Mukesh Ambani-run Reliance Retail said it is undertaking a new growth and brand strategy for its value formats as part of a five-year plan.
Under the plan, the company is adopting a brand expression 'Aapki Khushi Hamari Khushi' while deciding to focus on four key areas to propel growth.
These include strengthening the presence of multi-formats and other retail channels, driving growth through hypermarkets, pushing for leadership in fresh food, and enabling growth through world-class quality and infrastructure.
Reliance Retail's newly-appointed chief executive officer for value formats Gwyn Sundhagul unveiled a five-year business plan for the value chains including RelianceFresh, RelianceSuper and RelianceMart.
Sharing the business plan with a senior leadership team in Mumbai today, Sundhagul said, "in our effort to build on the right fundamentals for our business, it is vital to create a people-centric culture and demonstrate our care and respect to the three key stakeholders--customers, community and colleagues."
Reliance Retail, however, did not provide more details regarding the targets set under the five-year plan. It is looking at adopting a four-pronged strategy to drive growth of its value formats. This includes strengthening the presence in multi-formats and other retail channels and driving growth through hypermarkets. That apart the company is also looking at creating infrastructure such as distribution centres, fresh food processing centres, a retail academy and customer innovation centres.
"We have also built a very strong and experienced top leadership team to ensure we can implement these plans," said Sundhagul. Sundhagul was recruited by Reliance Retail last December along with four of his colleagues from Tesco Thailand.
Reliance Retail currently operates over 1,000 outlets across under 14 formats, including Fresh (neighbourhood stores), Super (supermarkets), Mart (hypermarkets), Ranger Farms (cash-and-carry), Delight (non-vegetarian), Digital (consumer durables and IT), Trends (apparel) and Footprint (footwear).
Value formats like Fresh, Super and Mart sell household items of everyday needs including vegetables and contributes to around 70 per cent of the total sales of the company.