Nine Reliance Fresh retail outlets set up in NCR

Reliance Fresh, $20 billion Reliance Industries' retail venture has reached the national capital region (NCR) with the opening of nine stores in Ghaziabad, Faridabad, Noida, Greater Noida and Gurgaon covering a total area of 19,000 sq. ft and with Rs.8 billion ($180 million) investment. The total number of Reliance Fresh outlets in the country is now 50. Reliance Industries Ltd ventured into the retail trade last year with an investment of $5.6 billion. The company has plans to expand it retail outlets in the NCR in multiple formats of hypermarkets, supermarkets and convenience stores. Its target is to open up 100 stores in the NCR by the quarter ending in June 2007.With a plan of having a pan-India presence, Reliance wants to achieve a target of Rs. 10 billion revenue by 2010 . Reliance Fresh has already announced its foray into Gujarat by opening 40 stores in Ahmedabad in March. The retail extension venture will continue with setting up of 20 stores in Surat, 15 in Vadodara, 12 in Rajkot and 10 in Jamnagar in the month of April 2007.

Courtesy: www.indianretailer.com
For more detail on Retail India visit: http://www.retailindia.tv