NEW DELHI: Moving aggressively to make the best of the retail revolution unfolding in the country, Mukesh Ambani-owned Reliance Retail Limited (RRL) on Thursday announced that it will be investing $6 billion to open around 300-400 hyper mart stores by 2010.
Sources in the company said that Reliance had already launched nearly ten formats of retail trade and was now turning its attention towards consolidating its position to meet the challenges likely to emerge from the tie-ups in the industry with multinational companies. Reliance Retail will be opening around 40-80 Reliance Marts and Reliance Hyper stores in various cities and it hopes to be present in every State with this concept by 2010. Each store will entail an investment of Rs. 40-70 crore and will be spread over 1-3 lakh sq. ft. Reliance has launched its ‘Reliance Mart’ in Jamnagar.
The major highlight of this mart is the opening of Reliance Auto Zone that will provide services such as maintenance and repair of cars and three-wheelers. Sources said this could be later expanded to opening up if business fir second-hand value brand cars.
Sujay Mehdudia
http://www.hindu.com/2008/02/01/stories/2008020155641900.htm
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