Reliance Retail, the country’s leading retailer, has announced its latest expansion moves into the FMCG sector during its Q4 earnings call on Friday. As part of this strategy, the company has acquired Raskik, a beverage brand, and Toffeeman, a candy brand. In addition to these acquisitions, Reliance Retail has formed a partnership with Maliban, a Sri Lankan biscuits brand, further expanding its product offerings. These recent moves demonstrate the company’s commitment to solidifying its position in the retail industry.
“During the quarter, the business grew its product range with the addition of Maliban (biscuits), Raskik (beverages), and Toffeeman (candy) to its portfolio,” said the earning statement from Reliance Industries on Friday.
Raskik is a startup in the beverages industry that offers a range of natural fusion beverages sold through various channels, such as general trade, local chains, and online grocers.
The Toffeeman brand is under the ownership of Sweet Confectionery, a company with over three decades of experience in the confectionery market.
“In the consumer brand business, we have a strong growth trajectory. All categories did very well. We continue to leverage our capabilities and expanding distribution network to launch new products. There were several new products launched during the quarter,” said Reliance Retail CFO Dinesh Taluja during the earnings call.
During the quarter, the company reintroduced Campa, a cola brand that it had acquired previously.
“We also boasted our presence in other categories as well. We went into a partnership with Maliban, which is a reputed player into biscuits as well as in beverages launched the Raskik brand and Toffeeman in the confectionary brand,” he added.
The company is prioritizing the expansion of its distribution network across various regions, along with increasing its product offerings in the Consumer Brands business.
As part of its FMCG ambition, Reliance Retail is in the midst of an expansion spree and has acquired multiple brands such as Sosyo, Lotus Chocolate, and Campa Cola.
In December, the company launched its consumer-packaged goods brand, Independence. The brand will encompass a variety of products in categories such as staples, processed foods, and other daily essentials.
Reliance Retail has expressed its ambition to become a significant player in the USD 110-billion FMCG (Fast Moving Consumer Goods) segment.
While products from RCPL, the FMCG arm and wholly-owned subsidiary of Reliance Retail Ventures Ltd (RRVL), are only available in certain markets.