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9, December 2006 Pragati Maidan, New Delhi.
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Pune is all set to figure on the Reliance Retail map. After Hyderabad and Jaipur, Reliance Retail is set to make its debut in Pune sometime next month. It is reportedly taking off with its network of ‘Fresh’ stores and will also be bringing its hypermart and speciality stores to the city. The company’s sources indicated that they have been scouting for space in Pune for all the three formats. The company is currently putting its supply chain in place while work on the front end has moved ahead. When contacted, the company’s spokesperson declined to comment on the details. Market sources estimated the target would be close to 100 stores across the city in the next few years. The company is also firming up plans for half a dozen hypermarts and about a dozen speciality stores. The ‘Fresh’ stores would span between 5,000 sq ft to 7,000 sq ft. The speciality stores for FMCG products, lifestyle and IT products would range between 10,000 sq ft to 50,000 sq ft while the hypermart format would have an expanse even bigger. The ‘Fresh’ stores would be located across major pockets in the city and the rest of the growth would happen where large plots of open space were available. Pune’s retail landscape has already attracted players such as Pyramid Retail, Pantaloons, Shoppers Stop and Trent. Real estate consultancy firm Chesterton Meghraj has estimated 5 million sq ft of built-up retail space would be added in the next 24 months in the city. Sources said the company has already tied up with farmers in Maharashtra for sourcing fruits, vegetables and pulses. Reliance has also submitted applications to the state government’s marketing directorate for a single licence to procure produce from the 41 agriculture produce market committees in the state.
Date: 15-Jan-2007
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