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Brands like Burberry and Armani as well as online retail help Asia’s second richest man bag record retail profit
Brands like Burberry and Armani as well as online retail help Asia’s second richest man bag record retail profit
Sanchita DashJan 22, 2021, 21:05 IST
BCCL
The operating profit for Reliance Retail jumped 13.3% thanks to the revival in the fashion and lifestyle segment.
In the quarter ending December 2020, the fashion and lifestyle grew by 1.5 times over the last quarter.
Reliance Retail added 327 stores in the last quarter alone, taking the total to 12,201 stores in the country.Reliance Retail managed to clock record profit despite a 18.6% fall in revenue compared to the same time last year. The operating profit for India’s largest retailer owned by Asia’s second richest man jumped 13.3%, to a new record high, thanks to the revival in the fashion and lifestyle segment.