New Delhi: Welcome to the age of ‘grocery shopping’ as Reliance announced launch of 9 big grocery stores in the national capital region of Delhi on Monday.
The western-style food stores have been structured on the lines of international retail giants Walmart and Safeway.
Reliance hopes to transform grocery shopping into a luxury experience by way of its stores. The launch of nine 'Reliance Fresh' stores in Noida, Greater Noida, Gurgaon, Ghaziabad and Faridabad took the number of such outlets that sell fruits, vegetables, groceries and dairy products to 49 in the country with an investment of close to Rs 3,000 crore.
RIL President and CEO (Operations and Strategy) Raghu Pillai said that 8-10 per cent of the Rs 25,000-30,000 crore that the company has planned for its retail venture by 2010 had been invested so far.
Reliance Retail, he said, hopes to earn Rs 1,00,000 crore of revenue over the next five years.
In addition, the wholesale supply chain business, which includes supply of perishable products and commodities to 'mom and pop' stores and street stall vendors, would also add to the revenues, he said.
He said the company has already tied-up with a few neighbourhood stores in Hyderabad for supplying commodities and the experiment was working fine.
Comments
0 comment