 |
6-
9, December 2006 Pragati Maidan, New Delhi.
|
||
 |
|
||
 |
|||
|
Reliance Retail juggernaut will enter the national capital region (NCR) next week to give the masses a taste of Western-style convenience stores, with an estimated investment of Rs 80bn ahead of Bharti-Wal-Mart, who will announce their road map in February. The company, which entered organised retail last year through food retailing outlets, will be opening nine‘Reliance Fresh’ stores across Ghaziabad, Faridabad, Gurgaon and Noida. The move to the NCR after opening the food retail stores in Hyderabad, Jaipur and Chennai, comes ahead of plans of its competitor— Bharti-Wal-Mart—to open hundreds of retail stores. For retail giant Wal-Mart, the tie-up with Bharti Enterprises has thrown up a huge and one of the world’s most attractive retail markets with a population of over one billion. The country’s increasingly wealthy middle-class alone is estimated at over 300 million, which equals that of the entire population of the US. Reliance Retail has lined up Rs 250bn investments over the next five years for its retail business, of which it intends to spend Rs 80bn in the NCR.
Date: 27-Jan-2007
|
|||
