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Reliance Digital to invest Rs110 cr to set up 31 stores

Reliance Digital to invest Rs110 cr to set up 31 stores
PTI
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First Published: Fri, Jul 10 2009. 04 23 PM IST
Updated: Fri, Jul 10 2009. 04 23 PM IST
Mumbai: Reliance Digital, the consumer durables arm of Mukesh Ambani-led Reliance Retail, plans to invest about Rs110-crore in the current fiscal to roll-out 31 stores across India.
The company, which resells Apple products through its iStore chain, will open 10 outlets by March 2010 along with 21 Reliance Digital outlets, Reliance Retail’s president and chief executive (consumer durable, IT & telecom), Ajay Baijal, told the agency.
Presently, Reliance Digital has a 14-strong network and 10 iStores pan-India in destinations such as Mumbai, Hyderabad, Bangalore, Chennai, Ahmedabad, Vadodara, Ludhiana and Jaipur.
“This year, we plan to take the total number of stores (Reliance Digital and iStore) to 55. Each Reliance Digital store requires an investment of about Rs4-5 crore, while an iStore takes up to Rs40-lakh,” Baijal said.
The company is currently scouting properties for its expansion plans, Baijal said.
While iStores are spread over 1,000-1,500 sq ft, a Reliance Digital store is much bigger, covering 10,000-40,000 sq ft.
The company on Friday launched its tenth iStore in the metropolis and will roll out one more in Chennai next week.
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First Published: Fri, Jul 10 2009. 04 23 PM IST