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Reliance Consumer Products launches FMCG brand, 'Independence' in Gujarat

  • India Infoline News Service |
  • 16 Dec, 2022 |
  • 8:16 AM

The introduction of the made-for-India consumer packaged goods brand "Independence" in Gujarat was announced on Thursday by Reliance Consumer Products, the FMCG division of Reliance Retail.

The business will market a variety of goods, including staples, processed meals, and other necessities for daily life, according to a statement. In order to achieve excellence in execution for its FMCG company, it intends to build Gujarat as a "go-to-market" state and would shortly roll out the brand nationally.

The company intends to expand the launch in the upcoming months to include FMCG shops throughout Gujarat.

Isha Ambani, Director of Reliance Retail Ventures Ltd., said, "I am thrilled to announce the launch of our own FMCG brand INDEPENDENCE which delivers a wide choice of high quality and inexpensive products like edible oils, pulses, grains, packaged foods, and other daily necessity products."

Isha Ambani, director of Reliance Retail Ventures, stated at the AGM that the company intended to start its FMCG business with the goal of developing and delivering high-quality, affordable products that address every Indian's everyday needs.

A subsidiary of Reliance Industries Ltd., Reliance Retail Ventures Limited serves as the holding company for all retail companies in the RIL group. For the fiscal year that ended March 31, 2022, it reported a combined turnover of Rs1.99 lakh crore and a net profit of Rs7,055 crore.

The retail segment had its highest gross quarterly sales of Rs64,920 crore thanks to network development, which also increased operating profit by 10% sequentially. In the first half of FY23, the retail business' operating profit was equivalent to 75% of the total from the previous year.

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