New Delhi: Reliance Retail Ltd plans to open one large hypermarket in towns with populations of under one lakh rather than take its small store format to such locations.
The hypermarkets will be between 50,000sq. ft and 1,00,000sq. ft and will be called Reliance Town Centre.
“Reliance Town Centre will be like a mall,” said a senior Reliance executive who did not want to be named. “There is no point having separate stores for apparel, jewellery, electronics, food,” he added.
So far, the company has rolled out more than 150 Reliance Fresh grocery stores in cities including New Delhi, Mumbai, Pune, Hyderabad, Bangalore, Chennai and Jaipur.
Reliance Retail recently added an electronics chain to its portfolio and plans to roll out apparel, health and beauty stores, and hypermarkets by July, say Reliance executives.
Reliance Retail, a unit of India’s largest conglomerate Reliance Industries Ltd, plans to expand to more than 6,500 cities and towns in the next four years and plans to spend about $5.5 billion (Rs22,550 crore) in Phase I of its retail venture.