26 July 2024
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. At the company's 45th annual general meeting
in August, RIL Chairman Mukesh Ambani announced the company's foray into the
fast-moving consumer goods (FMCG) industry, where it will face off against
companies like Unilever and ITC.
The company
will market a variety of goods, including staples, processed foods, 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 business intends to expand the launch in the upcoming
months to include FMCG shops in Gujarat.
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 consolidated revenue of Rs. 1.99 lakh
crore and a net profit of Rs. 7,055 crore.
