Reliance Retail Scales Up: 30 New Metro Stores Added in June Quarter

Reliance Retail expanded its footprint by adding 30 new Metro stores in June, increasing its total to over 200. The retailer acquired Metro AG's Indian operations in December 2022. With a presence in over 180 cities, Reliance's retail area grew by 15.15%, marking steady growth in various segments.

Reliance Retail, the country's foremost retailer, has significantly expanded its Cash & Carry outlets by adding 30 new Metro stores in the June quarter, bringing the total to over 200. This expansion comes after the acquisition of Metro AG's Indian operations in a Rs 2,850-crore deal in December 2022.

At the time of acquisition, Metro operated 31 large format stores in key locations. The latest earnings statement from Reliance Industries notes that the grocery division of Reliance Retail Ventures Ltd (RRVL) now operates these Metro stores, demonstrating another quarter of 'steady growth', particularly in Tier-2 and beyond cities.

Additionally, Reliance Retail opened a whopping 331 new stores, raising its total to 18,918 and growing its retail space by 15.15% to 81.3 million sq ft as of June 30, 2024. The fashion and lifestyle sector also saw expansion and the introduction of new formats like Yousta, Azorte, and GAP.

(With inputs from agencies.)