UNDER
ISHA AMBANI: THE RETAIL HEIRESS
Isha Ambani,
Director
AT THE ANNUAL GENERAL meeting (AGM) of Reliance Industries (RIL) last year, Chairman Mukesh Ambani introduced daughter Isha Ambani as the new leader of the conglomerate’s retail business, which recorded ₹2 lakh crore turnover and ₹12,000 crore cash flow in FY22, making it one of the top 10 retailers in the world. The announcement is seen as a sign of the billionaire’s succession planning.
The 31-year-old heiress to the RIL empire gave a presentation on placing grocery orders and making payments using WhatsApp. She has played a crucial role in transformation of the retailer as a digital commerce giant with a separate FMCG business. She was part of Reliance Retail’s ₹47,265 crore fund-raising from global investors in FY21.
In last couple of years, Isha has helped in acquisition of retail assets and tied up with global brands. Reliance Retail took over Hamleys in 2019, followed by Netmeds, Urban Ladder, Zivame, Just Dial, Portico, Dunzo and Milk Basket. It is about to complete the takeover of cash and carry business of German retailer Metro AG in India. In fashion and lifestyle, Reliance Retail has picked up sizeable stakes in brands such as Ritu Kumar and Manish Malhotra. It also signed a master franchise agreement with Texas-based convenience stores chain 7-Eleven.
Briefing investors at the AGM, Isha said, “We served over 200 million registered customers, equivalent to collective population of U.K., France and Italy, at physical stores and digital platforms (in FY22).” The digital commerce platforms, which she ideated, got nearly six lakh orders every day, an increase of 2.5 times over previous year. JioMart delivers to over 260 towns. Isha is now focusing on building the hyperlocal delivery model. Reliance Retail opened over 2,500 stores in FY22 to take store count to 15,000. It doubled warehousing and fulfillment space and generated employment for more than 1.5 lakh during the year, taking employee base to over 3.6 lakh. Isha, who graduated from Stanford & Yale, worked with her twin brother Akash for launch of Jio in 2016. She also helps mother Nita Ambani in Reliance Foundation.
The 31-year-old heiress to the RIL empire gave a presentation on placing grocery orders and making payments using WhatsApp. She has played a crucial role in transformation of the retailer as a digital commerce giant with a separate FMCG business. She was part of Reliance Retail’s ₹47,265 crore fund-raising from global investors in FY21.
In last couple of years, Isha has helped in acquisition of retail assets and tied up with global brands. Reliance Retail took over Hamleys in 2019, followed by Netmeds, Urban Ladder, Zivame, Just Dial, Portico, Dunzo and Milk Basket. It is about to complete the takeover of cash and carry business of German retailer Metro AG in India. In fashion and lifestyle, Reliance Retail has picked up sizeable stakes in brands such as Ritu Kumar and Manish Malhotra. It also signed a master franchise agreement with Texas-based convenience stores chain 7-Eleven.
Briefing investors at the AGM, Isha said, “We served over 200 million registered customers, equivalent to collective population of U.K., France and Italy, at physical stores and digital platforms (in FY22).” The digital commerce platforms, which she ideated, got nearly six lakh orders every day, an increase of 2.5 times over previous year. JioMart delivers to over 260 towns. Isha is now focusing on building the hyperlocal delivery model. Reliance Retail opened over 2,500 stores in FY22 to take store count to 15,000. It doubled warehousing and fulfillment space and generated employment for more than 1.5 lakh during the year, taking employee base to over 3.6 lakh. Isha, who graduated from Stanford & Yale, worked with her twin brother Akash for launch of Jio in 2016. She also helps mother Nita Ambani in Reliance Foundation.
Advertisement
Advertisement