Reliance Retail in JV with Dutch firm for optical chain

Printer Print Email Email
Mumbai March: Reliance Retail, a subsidiary of Reliance Industries, has signed a joint venture (JV) pact with Pearle Europe, a subsidiary of HAL Investments, a Netherlands based investment major in Europe, to set up a chain of optical stores at its hyper-marts, super stores and wellness stores. The JV, which will seek regulatory approvals and formalize the plans within the next few months, will sell private label frames, lenses, sunglasses, contact lenses and solutions based on contemporary optometric technology backed by trained optometrists and support staff, said the company. Pearle Europe operates 2,200 optical retail stores in 21 countries in Europe and West Asia. HAL Investments also owns many optical retail chains in China, Russia, Turkey and Brazil. "This joint venture underscores our commitment to bring world class partnerships to India, to service the changing needs of the customer, blending the capabilities of Pearle Europe, a leader in the optical retail industry, and Reliance Retail," said Bijou Kurien, President and Chief Executive (lifestyle division), Reliance Retail.

SPOTLIGHT
Finance
India's tea exports increased by 11.5 per cent to 17.93 million kgs in April this year aga..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will ..
Travel
Imagine life being a romantic Bollywood song of the 90's. All those exotic frames punched into one..
Career
Les Roches Global Hospitality Education, a multi-national hospitality management institute, a..
Technology
To ensure uninterrupted functioning of the app in areas of low networks, Facebook-owned..
Entertainment
Actor Dhanush, whose last Hindi release was R. Balkis "Shamitabh", may be working in another H..
Startup City
With cities growing rapidly and infrastructure not keeping pace, the daunting work com..
Business
Automobile major MG Motors India on Wednesday said that it plans to manufacture electric vehicle E..
Gadgets
Yamaha Music India has launched its first Indian keyboard PSR I500 under the 'Make in India' initi..