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Reliance Retail Hits $100B Valuation: India's New Hectocorn
15 Apr
Summary
- Reliance Retail now valued at over $100 billion, becoming a 'hectocorn'.
- The retail giant ranks seventh globally among the most valuable startups.
- Founded in 2006, Reliance Retail has rapidly expanded across numerous sectors.
Reliance Retail, India's largest retailer and led by Isha Ambani, has achieved a valuation of over $100 billion, officially recognizing it as a 'hectocorn'. This places the company at seventh among the world's most valuable startups. Launched in June 2006 as a subsidiary of Reliance Industries, the firm began with convenience stores under the 'Reliance Fresh' brand in Hyderabad in November 2006.
Over the years, Reliance Retail strategically expanded into consumer electronics with Reliance Digital, hypermarkets, apparel, and jewelry. It also ventured into joint ventures, including one with Marks & Spencer in 2008. Despite facing challenges and strategic shifts, such as closing certain store formats in 2013 and 2014, the company embraced e-commerce by rebranding stores to Reliance Smart and launching the fashion platform AJIO in April 2016.
Further diversification included the launch of the online grocery service JioMart in December 2019. In August 2020, an acquisition of Future Group's retail assets was initiated but later canceled. However, Reliance Retail successfully integrated over 200 former Future Group outlets, rebranding them and continuing its expansion, introducing international luxury brands and reintroducing Shein in 2025.
