Reliance Retail to open 4,000 stores across formats in 4 yrs

"We are looking at a rapid expansion and will be opening about 3,000-4,000 stores over the next 3-4 years. The expansion is a part of our USD 6-billion investment we had announced in 2006," Reliance Retail CEO and President (Lifestyle) Bijou Kurien told reporters on the sidelines of the India Retail Forum here.

Currently, the country's largest organised retail firm has 1,000 large and small outlets.

These are spread across formats such as Reliance Fresh, Reliance Footprint, Reliance Time Out, Reliance Digital, Reliance Wellness, Reliance Trendz, Reliance Autozone, Reliance Super, Reliance Mart, Reliance iStore, Reliance Home Kitchens and Reliance Jewel.

The company's new stores would mainly be in Tier I and II cities. Kurien said about 60 per cent of Reliance Retail revenue comes from the food business, currently pegged at Rs 3,000 crore. Reliance's total turnover from its retail business for FY 10 was around Rs 4,500 crore.

"The food and groceries business accounts for 60 per cent of our overall business and we see a good growth coming in from here," Kurien said.

About its toy stores Hamleys, a joint venture with UK- based Hamleys, Kurien said the company planned to open 20 such outlets over the next seven years.

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