Hi Hemendu, thank you so much for your feedback. To your first point, the statement was established after we referred to research reports from several brokerages, some of whom have been quoted in the story. The Jefferies report especially lays out the contribution of different channels quite well. To your second point, there are indeed several articles on how growth of private labels has dented sales for FMCG firms globally. In Europe, for instance, private brands even rank as category leaders in certain cases. 

Shruti Venkatesh

Completely agree with you, Srikanth. That's going to be a huge concern for FMCG firms if Reliance Retail is able to expand the market share of private labels.

Shruti Venkatesh

True Sarvesh. History of private labels would be very interesting to chronicle. But we didn't include too much context on it within this article, as that would shift focus away from the story-line.

Shruti Venkatesh

Hi Thanmaya, you are absolutely right when you say that little has translated into action when it comes to JioMart. However, it does not rule out the fact that RIL is focussed on expanding this network. Also, customers are both brand conscious and price conscious, depending on the product category and its usage, as highlighted in the story. While private labels is an old strategy, the sheer scale post acquisition will allow Reliance Retail to push its products across a much larger network of stores than any of its peers. And yes, like you said, FMCG firms are likely to be working on retaining their hold on the unorganised sector.

Shruti Venkatesh

Hi Kardam, in the first instance, where we say just 4% is organised, it is the overall market split between organised and unorganised. In the graph, we are referring to the revenues that FMCG firms get from the organised and unorganised channels. So there isn't a mismatch.

Shruti Venkatesh