Reliance retail's Fresh forays into NCR

Monday, 29 January 2007, 06:00 Hrs
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New Delhi: Reliance Fresh, the $20 billion Reliance Industries' brand for its grocery outlets, Monday opened nine new stores in the national capital region (NCR) with an investment of about 8 billion ($180 million).

The stores have been opened in Ghaziabad, Faridabad, Noida, Greater Noida and Gurgaon covering a total area of 19,000 sq ft.

Mukesh Ambani's Reliance Industries Ltd. entered the retail trade last year with an investment of $5.6 billion and has plans to expand its footprint in the NCR in multiple formats of hypermarkets, supermarkets and convenience stores.

"We plan to have a pan-India presence and achieve a target of 10 billion revenue by 2010 by which time we hope to complete Phase I," Raghu Pillai, president and chief executive of Reliance Retail, said at a press conference here.

"In the first phase we have plans to employ 500,000 people. We are following an all-inclusive model giving the right affordability across all income groups," Pillai added.

According to him, Reliance will open 100 stores in the NCR by the quarter ending in June 2007.

"We are aggressively partnering farmers by following a farm-to-fork strategy in our supply chain management model and ensure that we deliver fresh fruits and vegetables at affordable prices to our consumers."

Currently, Reliance Fresh has 49 stores across the country covering an area of 109,000 sq ft.

Reliance Fresh also offers a membership and loyalty programme - RelianceOne - to deliver customised benefits to frequent shoppers. Currently, it has 200,000 loyalty customers across Hyderabad, Jaipur and Chennai.

US retail juggernaut Wal-Mart has already tied-up with Sunil Bharti Mittal's Bharti group, which is expected to open its first store in Aug 15 by foraying into the retail trade and cash-and-carry trade business.

Organised retailing in India is expected to be worth $21.5 billion by 2010 from the current $7.5 billion, according to a retail consultancy firm Technopak Advisors.

Source: IANS
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