Reliance Retail Is The 2nd Fastest-Growing Departmental Store After Walmart
Billionaire Mukesh Ambani’s Reliance Retail Ltd was the second fastest growing retailer in the world in Deloitte’s 2021 ranking of worldwide retail power companies, which was down from the top in previous years.
The Deloitte report says it was ranked 53rd in the list of global retailers, an improvement from 56th earlier.
Top of the list is the American giant Walmart Inc, the world’s leading retailer. Amazon.com Inc. has improved to second place. The US Costco Wholesale Corporation slipped into third place, followed by the German Schwarz Group.
The top 10 have seven US and one UK retailers (Tesco PLC at 10th position). The Kroger Co (5th), Walgreens Boots Alliance, Inc (6th) and CVS Health Corporation are among the top 10 retailers in the US (ranked 9th). Aldi Einkauf GmbH & Co. oHG and Aldi International Services GmbH & Co. oHG are in 8th position in Germany.
If fully approved, the deal will nearly double the store area of Reliance Retail.
In 2020, Reliance Retail also acquired two e-commerce purchases, which Vitalic and its online pharmaceutical platform Netmeds acquired in August and a 96 per cent stake in UrbanLadder in November.
In the early months of 2021, Deloitte said the world faced both promise and danger.
“On the positive side, distribution of COVID-19 vaccines has been initiated promising that the negative impact of the virus could be significantly reduced sometime later in the year. On the negative side the virus continued to threaten economic stability in particular those parts of the world where new and virulent strains of the virus are widely spread and threaten to be a problem elsewhere “An error happened. An error happened.
Even in areas where there was a limited outbreak, the social distance measures had a negative effect on the economy to avoid another outbreak, he said that adding the challenge for policymakers was controlling the current outbreak, protecting those disrupted by it, and speeding up the distribution of approved vaccines.