Reliance Retail Ventures Launch FMCG Brand 'Independence' In Gujarat

Reliance Retail Ventures Ltd. has launched a new brand, Independence, to up its game in India's $110 billion fast-moving consumer goods space and compete with the likes of Hindustan Unilever Ltd. and Adani Wilmar Ltd.

"Our own FMCG brand, Independence, brings a wide choice of high-quality and affordable products, including edible oils, pulses, grains, packaged foods, and other daily needs,” Isha Ambani, director at the country's largest retailer, said in a statement on Thursday.

Independence has been launched under Reliance Retail's wholly owned subsidiary, Reliance Consumer Products Ltd.

The new made-for-India consumer packaged goods brand is being launched in Gujarat to test the waters before extending it to other markets, according to the company.

Reliance is also collaborating with manufacturers and kirana stores to strengthen the brand's reach.

Reliance's foray into FMCG comes at a time when the industry is reeling from a consumption slowdown amid soaring prices. Companies are stepping up premiumisation, taking price hikes, and cutting pack sizes to cope.

However, Reliance is confident that its chain of 2,640 grocery retail stores will act as a solid platform for the company to push its FMCG products.

The on-ground launch in Ahmedabad was complemented with outdoor and print, radio, and local television ads, according to the statement.

The company had internally set a target of Rs 50,000 crore turnover from the FMCG business, which will fall under Reliance Retail’s consumer brand division.

"Independence products are tailor-made with a distinct understanding of Indian consumer needs and are sure to find a place in Indian households, as they are not just made in India but made for India," the company said.

In FY22, Reliance Retail strengthened the presence of its own brands by launching several new products across categories, including staples, home, personal care items and general merchandise.

During the company's annual general meeting in August this year, Reliance Retail announced that it will soon enter the FMCG business with a new brand.

"Reliance Retail's strategy is to integrate with millions of small merchants and provide them with a platform to prosper. Since the launch two years ago, it has grown merchant partners base to over 20 lakh partners," Isha Ambani said, while addressing the company's 45th AGM in August.

In FY22, Reliance Retail reported a consolidated turnover of Rs 1.99 lakh crore.

Its parent Reliance Industries Ltd., invested Rs 30,000 crore in the retail business, and on average, Reliance Retail added seven stores per day.