Reliance Retail arm launches FMCG brand 'Independence' in Gujarat

The introductionof the made-for-India consumer packaged goods brand "Independence" inGujarat was announced on Thursday by Reliance Consumer Products, the FMCGdivision of Reliance Retail. At the company's 45th annual general meetingin August, RIL Chairman Mukesh Ambani announced the company's foray into thefast-moving consumer goods (FMCG) industry, where it will face off againstcompanies like Unilever and ITC.

The companywill market a variety of goods, including staples, processed foods, and othernecessities for daily life, according to a statement. In order to achieveexcellence in execution for its FMCG company, it intends to build Gujarat as a"go-to-market" state and would shortly roll out the brandnationally. The business intends to expand the launch in the upcomingmonths to include FMCG shops in Gujarat.

A subsidiary ofReliance Industries Ltd., Reliance Retail Ventures Limited serves as theholding company for all retail companies in the RIL group. For the fiscal yearthat ended March 31, 2022, it reported a consolidated revenue of Rs. 1.99 lakhcrore and a net profit of Rs. 7,055 crore.