Reliance Retail Rebounds in FY26: Luxury Sales Surge, FMCG Losses Modest

Reliance Retail recorded a strong performance across most of its business verticals in FY26, with its premium retail arm reporting a sharp rebound in sales and a significant narrowing of losses, according to the FY26 annual report of parent company Reliance Industries Limited (RIL), released on May 28.

Reliance Brands Limited (RBL), the retailer's luxury arm, reported sales of ₹3,494 crore in FY26, a 45% year-on-year (YoY) jump, compared with 5% growth in the previous fiscal. The company also cut its net losses by 51% YoY to ₹137 crore.

Toy retailer Hamleys of London posted an 11% YoY increase in sales to ₹588 crore, while Reliance GAS Lifestyle saw sales surge 33% to ₹139 crore.

Among designer labels, Ritu Kumar reported flat sales at ₹270 crore, while Rahul Mishra posted a 32% increase to ₹68 crore. Reliance's venture with Anamika Khanna recorded 13% growth in sales to ₹22 crore, while the partnership with Abu Jani Sandeep Khosla remained flat at ₹135 crore.

Wholesale and FMCG Arms

The wholesale business led by Metro Cash & Carry India recorded a 13% YoY increase in sales to ₹12,094 crore in FY26. However, the business slipped into a net loss of ₹39 crore, compared with a net profit of a similar amount a year ago.

Reliance's FMCG arm, operated through Reliance Consumer Products Limited (RCPL), was demerged into a separate entity in December 2025. In the four months following the demerger, RCPL reported sales of ₹7,042 crore and a net loss of ₹125 crore. Reliance has separately stated that RCPL's gross revenue doubled in FY26 to ₹22,000 crore.

The annual report noted that beverage brand Campa crossed ₹4,700 crore in gross sales in FY26, emerging as the country's fourth-largest carbonated beverage brand by March 2026, with double-digit market share in several markets. Staples brand Independence clocked sales of ₹2,600 crore. "RCPL will continue its accelerated growth trajectory, with revenues expected to grow multifold by 2030," the company said in the report.

For FY26 as a whole, Reliance Retail reported gross revenue of ₹3,71,085 crore, up 12% YoY.

Jio's Global Technology Push

The annual report also outlined Jio's plans to offer its telecom technology platforms in select international markets through local telecom operators. Offerings under consideration for export include cloud-native radio access network (RAN) systems, 5G core platforms, operations and business support systems (OSS/BSS), fixed wireless access (FWA) technology, JioBharat devices, JioTV+ services, and Jio set-top boxes.

Jio accounted for approximately 43% of India's fixed broadband market as of March 2026.

Reliance is expanding its presence in AI through Reliance Enterprise Intelligence Ltd (REIL), a joint venture with Meta, which will deploy Meta's open-source Llama models to develop AI applications for enterprises and small and medium-sized businesses.

On Jio's much-anticipated IPO, RIL Chairman and Managing Director Mukesh Ambani said in his letter to shareholders that the company would "continue to evaluate strategic pathways that can broaden stakeholder participation and support Jio's long-term growth." He did not specify a timeline. RIL is scheduled to hold its next AGM on June 19.