• About
  • Contact
Saturday, March 6, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Reliance Retail Acquires Shri Kannan Stores (SKDS) for Rs 152.5 crore 

Pritish raj by Pritish raj
March 6, 2020
in News, Retail
2 min read
0
Reliance Retail SKDS- Next Big Brand

Reliance Retail SKDS- Next Big Brand

Share on FacebookShare on Twitter
  • Reliance Retail (RRVL), a subsidiary of Reliance Industries Limited (RIL), has acquired Shri Kannan Departmental Store Private Limited (SKDS) for Rs 152.5 crore

Reliance Retail (RRVL), a subsidiary of Reliance Industries Limited (RIL), has acquired Shri Kannan Departmental Store Private Limited (SKDS) for Rs 152.5 crore to purchase 7,86,191 equity shares representing 100 percent of SKDS ‘ equity capital incorporated on September 15, 1999.

The company is engaged in retailing to customers of fruits & vegetables, dairy, food, home, personal care, and general merchandise.

SKDS currently operates 29 stores across Coimbatore and surrounding areas with more than 600,000 sq. of retail space. Ft. Operating revenues were Rs 415 crore, Rs 450 crore, and Rs 481 crore, while net profit was Rs 2 crore, Rs 3 crore, and Rs 4 crore in 2018-19, 2017-18 and 2016-17, respectively.

The above-mentioned investment will further strengthen the group’s retail operations and presence in Tamil Nadu state and further, facilitate retail and new trade initiatives. No governmental or regulatory approvals for the said investment were necessary, RIL said.

SKDS, founded on 15 September 1999, is engaged in the retailing of fruit & vegetables, dairy, food, home & personal care and general consumer goods. SKDS currently operates 29 stores across Coimbatore and surrounding areas. According to a report by RIL to stock exchanges, with a market area of over 6 lakh sq ft.

SKDS registered revenues from Rs 415 crore, Rs 450 crore, and Rs 481 crore operations as well as net profit from Rs 2 crore, Rs 3 crore, and Rs 4 crore operations in FY19, FY18 and FY17 respectively.

Reliance Industries said the investment will further strengthen the group’s retail operations and presence in the Tamil Nadu state and further facilitate retail and new trade initiatives.

Last year, Reliance Retail reported more than 50 Crore Falls and clocked a turnover of Rs 1.3 lakh crore. With a presence in almost 7,000 locations, the company has over two-thirds of its 10,415 stores in Tier II, Tier III and Tier IV cities.

It aims to be among the top 20 retailers in the world over the next five years by leveraging blockchain, the Internet of Things, artificial intelligence and other pan-India-based, new technologies.

Recently, Reliance Retail has topped the list of’ 50 fastest-growing retailers worldwide between FY 2013-2018′ in the Deloitte Global Retailing Powers ranking for 2020. In its annual report, Deloitte ranked 250 businesses worldwide based on their FY2018 revenues. The Indian retail giant has this year secured the 56th position against the previous year’s 94th place.

“India-based retailer Reliance Retail jumped from sixth in the FY2017 ranking to the first position in FY2018, posting a CAGR of 55.8 percent,” Deloitte report said.

Reliance Retail is the only Indian company to be featured within it, according to the report. More than half of the retail outlets were from Japan, and nearly a quarter are from China and Hong Kong.

Previous Post

Tinder Tops The List Of Top Grossing Dating Apps, Bumble & Pairs Follow

Next Post

Withdraw Limit of YES Bank Slashed To ₹50000. RBI To Take Resolution by The Earliest For the Private Bank

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Divya Gokulnath: Women Power Behind the Success of Byju’s
News

Divya Gokulnath: Women Power Behind the Success of Byju’s

March 6, 2021
Vineeta Singh-CEO of SUGAR: NBB
News

Vineeta Singh: an IIM Alumnus who Turned Down 1 Crore Job Offer for Startup Journey

March 5, 2021
Walmart owned Flipkart Eyes IPO through SPAC Route
News

Walmart owned Flipkart Eyes IPO through SPAC Route

March 5, 2021
Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC
News

Noise ranked as India’s No.1 Wearable Watch Brand in 2020 by IDC

March 5, 2021
Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey
News

Midhula Devabhaktuni: Inspiring Women with Her Successful Entrepreneur Journey

March 4, 2021
Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis
News

Deepinder Goyal, Asish Mohapatra, Sarbvir Singh, and Manish Vij Invest in Bijnis

March 4, 2021
Next Post
private bank - next big brand

Withdraw Limit of YES Bank Slashed To ₹50000. RBI To Take Resolution by The Earliest For the Private Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Influencer Marketing Branzup- Next Big Brand

Decoding The Basics Of Influencer Marketing With Dheeraj & Brandzup Media

9 months ago
spencers acquires natures basket photo by Saurav Bhagat for nextbigbrand.in

Spencers Retail acquires Godrej’s Natures Basket for 300 crore

2 years ago
fitness bands realme - next big brand

Here is Everything You Need to Know About Fitness Bands of Realme

1 year ago
Gaming Rivals Of PUBG Are Booming After The Ban Of Battle Royale Game

Gaming Rivals Of PUBG Are Booming After The Ban Of Battle Royale Game

6 months ago

FOLLOW US

  • 28.9k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Divya Gokulnath: Women Power Behind the Success of Byju’s
  • Vineeta Singh: an IIM Alumnus who Turned Down 1 Crore Job Offer for Startup Journey
  • Walmart owned Flipkart Eyes IPO through SPAC Route

Instagram

Follow Me!

Latest News

Divya Gokulnath: Women Power Behind the Success of Byju’s

Divya Gokulnath: Women Power Behind the Success of Byju’s

March 6, 2021
Vineeta Singh-CEO of SUGAR: NBB

Vineeta Singh: an IIM Alumnus who Turned Down 1 Crore Job Offer for Startup Journey

March 5, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.