Reliance Retail comes up with big plans
Reliance Retail Ltd. (RRL) has again started to go deep into the consumer business and as part of this it is now planning many big expansion plans.
Mukesh Ambani's promoted RRL, on Thursday, launched plans as a part of this it is going to go heavy on expansion drive.
Amidst signs of rising consumer spending, the retailer is looking to add 900 new stores over the next five years to its existing 1,000-odd outlets.
And for this, it has come up with a four-point strategy. As part of this, it will focus more on the multi-format and hypermarket models. It will also keep fresh foods and will provide world-class infrastructure for being able to attract many consumers.
The company is coming back in the retail space after a black stint in 2008, where the company faced major debacle with the closing of stores and also decrease in profits.
Now, the company is planning to invest Rs. 25,000 crore or even more based on the requirement of the sector.
Mukesh Ambani, who launched key stores in Mumbai and Pune, will be employing 700 people. Ambani now wants to make RRL a "world class retailing company'.