Mukesh Ambani, Isha Ambani's BIG bet on…, Reliance to target 600000000 customers, big challenge for….
Reliance Industries' new target is the consumer goods (FMCG) market where India's 600 million consumers are giving huge business. To enter in this market Reliance is thinking of partnerships with local kirana stores by offering them higher trade margins. This was confirmed by T Krishnakumar, Director of Reliance Consumer Products Ltd (RCPL), in an interview with The Economic Times.
'India has a 1.4 billion population, plus or minus. Then we have a core middle class. And then about 600 million consumers. We want to make quality products for these consumers,' Krishnakumar said.
'Nobody has tried to enter this space nationally with a clear approach; regional and local players have tried but they have not been able to sustain,' he said.
RCPL plans to expand its brand portfolio nationally by March 2027. 'When I say we are scaling up, it does not mean tomorrow. For any product to be scaled in an intense manner, you need 24–30 months,' Krishnakumar said. Other consumer companies like HUL, ITC, Nestle and Dabur are trying premiumisation for higher margins.
As Radhakishan Damani's Dmart is heavily invested in FMCG product, Reliance Industries potential partnership with Kirana stores can affect it's daily business.
Reliance's consumer business was started in 2022 which is a wholly-owned subsidiary of Reliance Retail Ventures. It acquired more than 15 brands like Campa Soft Drinks. Its portfolio also has Sil jam, Lotus Chocolate, Toffeman and Ravalgaon, Alan's Bugles snacks, Velvette shampoo and Independence staples.
Campa and Independence crossed Rs 1,000 crore each in sales and reached 1 million stores. In soft drinks, chocolates and detergents, the company has priced all products 20-40% lower than competitors like Coca-Cola, Mondelez and HUL.
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