Reliance Industries’ retail arm has rapidly increased its B2B store count following the acquisition of Metro Cash and Carry’s India operations, bringing the total to over 200 stores across more than 180 cities. The company added 30 new stores during the April-June quarter, as revealed in its investor presentation after announcing its results.
In late 2022, Reliance Retail acquired Metro Cash and Carry India for Rs. 2,850 crore. At that time, Metro Cash and Carry operated just 31 large-format stores in 21 cities.
“With the Metro Cash and Carry India acquisition, we have created an omnichannel offering for the B2B segment,” said a source familiar with the matter. “Our customers, primarily retailers, can now shop both on our app and in our stores.”
Previously, Reliance operated JioMart B2B before acquiring Metro Cash and Carry India. Post-acquisition, most of its B2B customers are now on Metro Cash and Carry’s app, with JioMart’s customers migrating to the acquired entity’s app, according to the source. The source also noted, “The expanded B2B network implies robust sourcing and distribution.”
Following its earnings release, the company stated it would continue investing in stores, platform enhancements, product design, and sourcing capabilities to further strengthen its value proposition. These initiatives are expected to sustain growth momentum in the near and medium term.
The company reported that its grocery new commerce business continued to expand its kirana partner base, with the Metro Cash and Carry format adding 30 new stores in the quarter.
At the time of the acquisition, the German retailer’s cash-and-carry operations in India served over 3 million B2B customers, including 1 million frequent buyers, through its store network and e-B2B app.
