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Tuesday, 06 July 2010 |
Reliance Retail, a subsidiary of Reliance Industries, one of India's largest private sector
enterprises is on an expansion mode. It plans to invest Rs 2,000 crores in 2010-2011 to add 3 million sq. ft. retail space in hypermarkets and other retail format across India. Reliance Retail currently operates over 4.5 million sq. ft. retail space. This large investment will entail tripling its expansion plans, as in 2009-10 the company added only 1 million sq. ft. retail space.
The chain plans to add 30 hypermarkets and 250 speciality stores this financial year. Around 1.5 million sq. ft. will be added in hypermarkets and another 1.5 million sq. ft. will be in speciality stores and Reliance Fresh.
As a part of this mega expansion plan, Reliance Retail will focus on expanding Reliance Mart hypermarkets and its speciality retail formats of Reliance Trend, Reliance Digital, Reliance Jewels, Reliance Footprint, Reliance Time-Out and Reliance Wellness in various metros and smaller cities across the country.
Reliance Retail was set up in 2006 to lead Reliance Group’s foray into organized retail. Based on its core growth strategy of backward integration, RRL has made rapid progress towards building an entire value chain starting from the farmers to the end consumers. The company operates several ‘value’ and ‘specialty’ formats. |
