Reliance Retail expects to become the world's biggest garment seller by volume in the next two years, driven by growing demand in the most populous market that is not showing any signs of a slowdown, a top executive said.
Customer spending is purely based on sentiment and India's growth story is intact because of a feel-good factor in the market, Reliance's fashion and lifestyle chief executive Akhilesh Prasad told ET. "India will be the fastest growing economy and there is no problem. So, we are managing customer sentiment which ensures the market grows."
With more than 4,000 fashion and apparel stores, including brands such as Trends, Centro, Azorte and Fashion Factory, Reliance is by far the market leader in the segment. The retailer sold 430 million pieces of garment in 2022, enough to clothe the entire population of the US and Canada.
Reliance chairman Mukesh Ambani believes that the one who doesn't grow actually shrinks, Prasad said. "And that's the brief from our le...