Saturday, November 4
Reliance retail rolls out
Billing counters at the Reliance Fresh store in Banjara Hills got busy scanning barcodes as the Rs 25,000-crore Reliance Retail venture clocks its first day in business.
Its template, when translated into action, has all the trappings of creating a retail behemoth. The blueprint of Reliance Retail envisages covering 784 towns, spanning 100 m sq feet retail space and targeting a top line of Rs 1,00,000 crore by ’10-11.
Reliance Fresh, the 2,300 sq ft format, will stock high-frequency consumables. Its other formats like hypermarkets may spread across as much as 1,50,000 sq ft. The company is likely to trigger a regime of aggressive pricing in items of daily consumption as it competes with the mom & pop stores, cornerside vendors and rival retail chains.
Posted by Arun Muralidhar