RIL announces FMCG foray at AGM: What you need to know

Moving ahead from the big 5G push from Jio, the Ambani family told RIL shareholders that soon FMCG will also be added to the Reliance pack as it gets set to take the foreign multinationals such as HUL, P&G and Nestle head-on in the consumer goods market.

"I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver high quality, affordable products which solve every Indian's daily needs," Isha Ambani, director of Reliance Retail.

As per reports, the companies' preparations for an all-out invasion in the consumer goods space has been in the works for some quarters. During FY22, to strengthen its manpower, Reliance Retail added more than 150,000 new employees - taking the total headcount to 361,000.

In FY2021-22 alone, the group acquired or invested in fashion brands like Abu Jani Sandeep Khosla, Abraham & Thakore, ak-ok, Rahul Mishra and women’s intimate wear brand Clovia.

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