Brands
HRD Antwerp taps Paul De Wachter as ceo
Mumbai: HRD Antwerp has named Paul De Wachter as its new ceo, handing the reins to a diamond industry veteran at a moment of rapid change for the global gems trade.
Appointed by the board of directors of HRD Antwerp, a subsidiary of the Antwerp World Diamond Centre, De Wachter takes charge from January 5. His brief is clear: sharpen HRD’s role as a trusted certifier and steer the organisation through shifting consumer tastes, tighter scrutiny and the rise of lab-grown diamonds.
De Wachter brings more than two decades of experience across banking and diamonds. He began his career in 2002, rising to senior relationship manager at Antwerp Diamond Bank, before a stint at Channel Capital Advisors. He later joined the National Bank of Fujairah, where he spent over seven years, first as head of the Antwerp representative office and, from 2020, as head of the diamond unit—expanding the bank’s footprint and strengthening its standing in the sector.
“With his international experience, strong network and proven results, Paul is the right leader to take HRD Antwerp into the future,” said Bart De Hantsetters on behalf of the board.
For De Wachter, the timing is as challenging as it is opportune. “The diamond industry is at an inflection point,” he said, citing evolving consumer expectations and the growing presence of lab-grown stones. “HRD has a crucial role to play as a trusted partner, and I am fully committed to strengthening that position.”
Founded in 1973, HRD Antwerp is Europe’s leading authority in diamond grading, jewellery certification and education, drawing on centuries of Antwerp’s diamond-trading heritage. In India, the organisation has steadily expanded its footprint since opening a diamond grading laboratory in Mumbai in 2012, followed by jewellery certification in 2018. Today, HRD India operates from Mumbai’s Bandra Kurla Complex, with labs and drop-off points across SEEPZ, Surat, Delhi, Jaipur, Kolkata and Hyderabad.
As scrutiny intensifies and the market evolves, HRD Antwerp is betting on seasoned leadership. With De Wachter at the helm, the message is unmistakable: the world’s diamonds may be changing, but trust remains non-negotiable.
Brands
Reliance Retail FY26 revenue rises 11.8 Per Cent to Rs 3.7 lakh crore
Q4 revenue up 11.1 Per Cent, hyperlocal orders surge 4x, PAT steady
MUMBAI: Reliance Retail isn’t just ringing up sales, it’s ringing doorbells faster than ever. Reliance Retail Ventures Limited (RRVL) reported a steady FY26 performance, with growth powered by store expansion, a sharp surge in hyperlocal commerce, and consistent traction across grocery, fashion and jewellery. For the full year, revenue rose 11.8 per cent year-on-year to Rs 3,70,026 crore. In the January–March quarter, revenue from operations climbed 11.1 per cent to Rs 87,344 crore, up from Rs 78,622 crore a year earlier.
Operating performance remained stable, with Q4 EBITDA inching up 3.1 per cent YoY to Rs 6,921 crore from Rs 6,711 crore. However, quarterly profit after tax held steady at Rs 3,563 crore. For the full fiscal, PAT grew 11.7 per cent to Rs 13,842 crore.
Expansion remained a key lever. RRVL added 1,564 new stores during FY26, while simultaneously scaling its digital and hyperlocal commerce play. The latter emerged as a standout, with daily orders surging more than fourfold year-on-year in Q4, underlining a clear shift towards faster, localised fulfilment.
In grocery, large-format stores maintained momentum, aided by festive demand and the expansion of Smart Bazaar, which crossed 1,000 stores. Promotional campaigns such as ‘Full Paisa Vasool’ delivered record results, with sales rising 26 per cent YoY.
Digital commerce also picked up pace. JioMart added 5.8 million new users in Q4, nearly doubling its registered base year-on-year. Hyperlocal orders grew 29 per cent sequentially and over 300 per cent annually during the quarter.
Fashion and lifestyle saw steady traction. Ajio recorded a 23 per cent YoY rise in average bill value, while fast-fashion platform Shein crossed 11 million app installs, scaling rapidly with expanding product lines.
The jewellery business added further shine, with average bill value jumping 53 per cent YoY, largely driven by rising gold prices and sustained consumer demand.
Commenting on the shift, RRVL executive director Isha Ambani said hyperlocal commerce has become a structural growth driver, with orders rising more than fourfold over the year.
Looking ahead to FY27, the company is betting on technology to deepen engagement. The focus, Ambani noted, will be on AI-led merchandising, sharper pricing strategies and disciplined execution turning scale into sustained customer value.
In short, the carts are fuller, the clicks are quicker, and the next phase looks less about reach and more about precision.
