subject: Reliance Retail Now Explores Cash And Carry Business [print this page] Reliance Retail, the India largest organized retail company with Value & Special formats, with a pan India footprint, with over 1000 stores is entering the cash and carry business this year. Mukesh Ambani-led Reliance Industries said its retail arm Reliance Retail is entering into this cash and carry business by opening at least three outlets in the next six to eight months.
Reliance retail plans to enter cash and carry segment Solo without any foreign joint ventures. The company has already identified locations and work was on for the construction of the outlets with an area spread over 1.5 lakh square feet each. This is, however, a scaling-down of the company's initial plan to open its stores at 15 locations, mostly Tier-II centres such as Jalandhar, Ludhiana, Rajkot and Salem.
Reliance's entry into the cash and carry business assumes significant at this point, as the market is abuzz with reports of global retailers such as Wal-Mart, Tesco, Metro and Carrefour expanding their presence in India amid anticipation that the government is likely to ease FDI norms in both the wholesale and retail formats.
The company is back with a bang. It is soon going to announce its revived cash-and-carry business plans and will open three outlets over the next six to eight months, the source said without divulging details.
Since its inception in 2006, Reliance Retail has grown into an organization that caters to millions of customers, thousands of farmers and vendors. Based on its core growth strategy of backward integration, Reliance Retail has made rapid progress towards building an entire value chain starting from the farmers to the end consumers. Reliance Retail currently operates 15 formats such as Reliance Fresh, Reliance TimeOut, Trendz and Digital and Jewels, among others.
by: Chintan Shah
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