Reliance Retail set to open 4,000 stores in 4 yrs

Reliance Retail plans to open 3,000-4,000 stores across its 19 formats, in addition to the existing 1,000 stores, in the next four years. . Reliance Retail currently operates 19 formats such as Reliance Fresh, Reliance TimeOut, Trendz and Digital and Jewels, among others. The company also aims at a growth rate of not less than 100% for the financial year 2010-11.

It also plans to enter into the cash-and-carry business by opening at least three outlets in the next 6-8 months. The cash and carry stores will have a square feet area 1.5 lakh.

The company had projected Rs 45,000 crore turnover from the retail business in the next five years. From food and groceries to bringing global brands like Hamleys, Diesel and Marks & Spencer, Reliance has tried to expand in almost all formats, thus, clocking Rs 4,500 crore in sales in 2009-10.crackcrack