Reliance Retail brands may soon come to kiranas
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“We have now had the launch of our own brand called Puric InstaSafe, which is built on the proposition of hygiene and we (are) now looking to extend that into general trade as we scale up our new commerce business,” Dinesh Thapar, chief financial officer of Reliance Retail, said in an investors’ call on Friday.
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“To begin with they are planning to go national with Puric InstaSafe brand,” he said. “Puric InstaSafe would be a precursor to other Reliance brands to follow with other brands in the general trade.”
In its last earnings call, Reliance Retail announced that it is in the process of launching new private label brands and wants to scale up the existing ones
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The fast-moving consumer goods (FMCG) market shrank 16%, according to Bizom, which transacts with 7.5 million retail stores. Sales of refrigerators, air-conditioners, televisions and washing machines fell about 65%, as per estimates by the Consumer Electronics and Appliances Manufacturers Association (CEAMA).
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Sales of daily groceries, essentials, electronics and automobiles declined sharply in April compared with last month, indicating faltering demand amid surging Covid infection cases and ensuing restrictions.
The fast-moving consumer goods (FMCG) market shrank 16%, according to Bizom, which transacts with 7.5 million retail stores. Sales of refrigerators, air-conditioners, televisions and washing machines fell about 65%, as per estimates by the Consumer Electronics and Appliances Manufacturers Association (CEAMA). Passenger vehicle sales declined more than 10% in April over March on account of disruptions in the retail sales channel with a third of the m
Ambani’s RIL flags economic pain as virus devastates India
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Last Updated: May 01, 2021, 09:37 AM IST
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Reliance Industries Ltd., India’s largest company by market value and one that’s considered a bellwether for the broader economy, said it hasn’t escaped a devastating new wave of the coronavirus and warned of more pain unless the surge is quickly curbed.
Reliance, whose earnings missed analysts estimates for the March quarter, has signaled more pain in the days ahead unless the virus wave peaks out soon.
By P R Sanjai and Dhwani Pandya
Reliance Industries Ltd., India’s largest company by market value and one that’s considered a bellwether for the broader economy, said it hasn’t escaped a devastating new wave of the coronavirus and warned of more pain unless the surge is quickly curbed.