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Reliance Retail posts record revenue in festive Q3

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MUMBAI: When shoppers splurged this festive season, Reliance Retail clearly cashed in. That was the message from Reliance Retail CFO and head of corporate development Dinesh Taluja as he walked analysts through the company’s performance during the earnings call following the unaudited financial results for the quarter and nine months ended December 31, 2025.

Speaking in the transcripted call, Taluja said the retail arm posted its highest-ever quarterly revenue of Rs.97,600 crore, up 8.1 per cent year-on-year, despite a shifting festive calendar and the impact of GST rate rationalisation from late September. EBITDA for the quarter stood at Rs.6,915 crore, translating into an 8 per cent margin, while profit after tax rose to nearly Rs.3,600 crore. Margins, he noted, were influenced by festive promotions, rapid investments in hyperlocal commerce and a one-time impact from the new labour code.

Hyperlocal commerce emerged as a standout growth lever. Reliance Retail ended the quarter with 1.6 million orders, clocking 53 per cent quarter-on-quarter growth and a striking 360 per cent rise year-on-year. The business now spans 5,000-plus pin codes across 1,000-plus cities, supported by over 3,000 stores, including a growing network of dark stores. Customer momentum remained strong, with 5.9 million new customers added during the quarter, pushing the base 43 per cent higher year-on-year.

Across categories, growth was broad-based. Grocery big-box formats delivered healthy like-for-like growth, while festive gifting drove record volumes. The B2B Metro business saw rising footfalls, aided by loyalty and engagement programmes for kirana partners. In fashion and lifestyle, Reliance continued to leverage its 1,300-plus city omnichannel network, enabling delivery windows ranging from 30 minutes to next day, a capability Taluja said competitors would struggle to replicate at scale.

Digital fashion platform Ajio also posted solid gains, with average order values up 21 per cent year-on-year, a live catalogue of 2.8 million options, and rapid expansion of services such as Ajio Rush, now live across 420 pin codes in 10 cities. Meanwhile, jewellery recorded strong value-led growth, with average bill values up 73 per cent, driven largely by higher gold prices and a surge in exchange-led purchases during Dhanteras.

Summing up his remarks on the call, Taluja pointed to scale, supply-chain depth and a dense store footprint as Reliance Retail’s key advantages. As he framed it, the quarter underscored how breadth across formats physical, digital and hyperlocal is steadily turning into a durable growth engine for the retail business.

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Delhivery chairman Deepak Kapoor, independent director Saugata Gupta quit board

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Gurugram: Delhivery’s boardroom is being reset. Deepak Kapoor, chairman and independent director, has resigned with effect from April 1 as part of a planned board reconstitution, the logistics company said in an exchange filing. Saugata Gupta, managing director and chief executive of FMCG major Marico and an independent director on Delhivery’s board, has also stepped down.

Kapoor exits after an eight-year stint that included steering the company through its 2022 stock-market debut, a period that saw Delhivery transform from a venture-backed upstart into one of India’s most visible logistics platforms. Gupta, who joined the board in 2021, departs alongside him, marking a simultaneous clearing of two senior independent seats.

“Deepak and Saugata have been instrumental in our process of recognising the need for and enabling the reconstitution of the board of directors in line with our ambitious next phase of growth,” said Sahil Barua, managing director and chief executive, Delhivery. The statement frames the exits less as departures and more as deliberate succession, a boardroom shuffle timed to the company’s evolving scale and strategy.

The resignations arrive amid broader governance recalibration. In 2025, Delhivery appointed Emcure Pharmaceuticals whole-time director Namita Thapar, PB Fintech founder and chairman Yashish Dahiya, and IIM Bangalore faculty member Padmini Srinivasan as independent directors, signalling a tilt towards consumer, fintech and academic expertise at the board level.

Kapoor’s tenure spanned Delhivery’s most defining years, rapid network expansion, public listing and the push towards profitability in a bruising logistics market. Gupta’s presence brought FMCG and brand-scale perspective during a period when ecommerce volumes and last-mile delivery economics were being rewritten.

The twin exits, effective from the new financial year, underscore a familiar corporate rhythm: founders consolidate, veterans rotate out, and fresh voices are ushered in to script the next chapter. In India’s hyper-competitive logistics race, even the boardroom does not stand still.

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Brnd.me enters Europe as haircare brands power global expansion

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Bengaluru:  Brnd.me, the global consumer brands company formerly known as Mensa Brands, has entered the European market following strong momentum across the Middle East, the United States and Canada.

The company has launched across the UK, Germany, France and Spain, with plans to expand into Italy, the Netherlands and Poland over the next year. The push is being led by its haircare and aromatherapy brands, Botanic Hearth and Majestic Pure, marking Brnd.me’s first structured expansion into Europe.

The European beauty market represents a total addressable opportunity of over $4 billion across haircare and aromatherapy, supported by high digital adoption and demand for accessible, performance-led products.

Brnd.me’s hair care and aromatherapy business currently operates at an annual run rate of around $6 million, with Botanic Hearth and Majestic Pure delivering roughly 10 per cent month-on-month growth, driven by expansion and rising repeat demand.

To support regional growth, the company has appointed a general manager based in Germany and is evaluating investments in warehousing and local team expansion.

Early traction has been strong. Within weeks of launch, Botanic Hearth’s rosemary hair oil ranked among the top five hair oils in Germany, signalling strong consumer pull in a competitive market.

Brnd.me founder and chief executive officer Ananth Narayanan, said Europe represents the next phase of the company’s international strategy. He added that the European business is expected to scale to a $10 million annual run rate by the end of 2026, with long-term ambitions to reach $60 million over the next six years.

The company’s Europe strategy centres on digital-first distribution, repeat demand and TikTok-led discovery, alongside direct-to-consumer expansion to strengthen brand equity and margins.

The move also aligns with growing EU–India trade engagement, supporting long-term sourcing and cross-border supply chains.

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TechnoSport taps quick commerce with launch on Slikk’s 60-minute platform

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NATIONAL: TechnoSport has launched on Slikk, the ultra-fast fashion app offering 60-minute delivery, as the activewear brand accelerates its push into quick commerce to capture Gen Z and young millennial shoppers.

The debut brings more than 150 high-performance styles to Slikk’s platform, with an average selling price of Rs 450, expanding TechnoSport’s reach across over 80 pin codes.

The partnership follows strong momentum for TechnoSport across Q-commerce channels, where the brand has recorded around 60 per cent volume growth over the past six months. The company expects quick commerce to contribute nearly 20 per cent of its revenue in the coming years as hyperlocal delivery gains scale.

Slikk, which recently raised $3.2 million in seed funding led by Lightspeed, has rapidly gained popularity among youth consumers seeking speed, trend relevance and impulse-led shopping experiences.

Activewear remains one of Slikk’s fastest-growing categories, driven by shoppers increasingly treating fitness-led fashion as an everyday essential. The platform has reported a 30-fold year-on-year increase in items sold, reflecting rising demand for performance wear that blends comfort with style.

TechnoSport chief executive officer Puspen Maity, said the collaboration would help the brand engage more closely with young consumers whose fashion choices are shaped by instant needs and lifestyle aspirations. He added that rapid delivery bridges the gap between intent and purchase, allowing shoppers to access activewear exactly when they want it.

 

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