According to recruiters, the retail division of Reliance Industries Ltd. is looking for thousands of other junior and mid-level executives in addition to up to 200 senior executives at the vice-president level and beyond with annual compensation of at least $1 million. Over the next three quarters, Reliance Retail Ventures Ltd, the group’s retail holding business, plans to fill 60,000 juniors to mid-level roles, many of them at its locations.
The employment intentions come at a time when the retail industry has partnered with numerous major brands, building new locations, and intends to open numerous additional ones over the coming few months. “Reliance Industries has big plans for growing its retail business, including hiring 150 to 200 senior executives at the vice-president and higher levels. The head of an executive search agency, who wished to remain unnamed, claimed that they were being hired from competitors and international chains. In the last few months, Reliance Retail Ventures has signed several partnerships. Among them is the unit Reliance Retail Ltd.’s July signing of a long-term franchise contract with American clothing company Gap Inc. The global fresh food and organic coffee company Pret a Manger and another division, Reliance Brands Ltd, established a strategic collaboration a month earlier. Including Reliance Smart, Reliance Trends, Reliance Digital, Ajio.com, and JioMart, Reliance Retail runs both online and offline retail outlets. Among the high-end brands included in Reliance Brands’ current portfolio of brands, alliances include Armani Exchange, Jimmy Choo, Kate Spade New York, and Manish Malhotra.
Son Akash Ambani was given control of the telecom company Reliance Jio in June. It is anticipated that Isha Ambani will take over the retail division. The executive from the search firm continued, “The company is also looking at several stock options schemes to attract senior personnel, but no one structure has been finalized.” The retailer’s executive team is being advised by the consulting company Bain, although neither Reliance Retail Ventures Ltd. nor Bain responded to Mint’s inquiries. Reliance employed a junior to middle management recruiter who said the business increased store-level recruiting starting in the June quarter, particularly in north India. In the third quarter, Reliance Retail added 720 outlets, bringing the total to 15,916. During the quarter, Reliance Retail gained more than 17,000 positions, bringing its total to 379,000, according to its most recent earnings report. Reliance Digital, a chain of electronics retailers, plans to open 40 more locations over the coming few months.
According to a chain official at the top level, the chain has already launched 26 stores since April. Reliance Retail has begun rebranding previous Big Bazaar locations as “Smart Bazaar,” and hundreds of these shops will open their doors to customers across the nation in the upcoming weeks, the person added on condition of anonymity.
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