The first under the conversion plan is 44,000 sq ft Reliance Mart in Bhopal’s Aashima Mall which is under renovation currently and is expected to open in a new avtar in February 2014. The other two to be apparently converted are in Ludhiana and Aurangabad, each.
With the cash and carry model, the organised retailers will be able to supply bulk order to the kirana stores, which otherwise were their competition.
Modern retail has always been a step behind when it comes to consumers’ preference to shop for food and grocery, though modern retail stores offer a wide variety what they are unable to offer is good price. While modern retail sells at MRP until a scheme run by brand, neighbourhood stores sells at wholesale price 365 days of the and if you are lucky you can also avail ongoing schemes.
One of India’s largest media conglomerate, Reliance Retail and the technology major, Samsung have together signed a pact to offer after sales services. With this partnership Reliance will manage Samsung’s after sales services.
Going further Reliance aims at signing similar pacts with nearly all top electronics and technology brands present in the country and becoming India’s leading one-stop consumer electronics installation, maintenance and service venture.
The deal which has been signed between Samsung and Reliance resQ has started with the launch of pilot services in Pune.
The American discount footwear brand, Payless ShoeSource, now comes to India. A part of the Collective Brands, Inc., the brand ties up with Reliance Retail as its exclusive franchisee in the country.
The retail conglomerate, Reliance Retail, will replicate the store design strategy followed across other international market. The stores will house footwear and fashion accessories for the complete family. The USPs of these stores will be great value priced products, hard-to-find footwear sizes for women and perfectly fitting footwear for children.
Payless has 258 stores worldwide in countries including Russia, the Philippines, Saudi Arabia, Indonesia, Thailand, Vietnam, South Korea, Kuwait, United Arab Emirates and Malaysia.
If reports are to be believed, Apple’s plans to expand retail presence in India has hit a roadblock, as the partner Reliance Retail shuts 16 of the existing 20 iStores in India. The stores are being shut as the store designs are not upto the standards set by Apple.
The norms laid by Apple and not followed by Reliance includes high ceilings, white LED lighting, wooden floors and set size of display tables. While Reliance feels that these norms will not be feasible in Indian market.
The shut stores will be transformed in to Reliance Digital Xpress stores, which Reliance Retail is expanding as a concept.
If we get what the little birdy says, India will soon have its very own Amazon or eBay, as Reliance Retail aims to foray in to e-commerce within six to eight months of time. The e-retail business is likely to be based on marketplace model.
Vision Express, the JV between Reliance Retail and Grand Vision, expands its presence in the Indian market as it opens its 17th store in Pune. Located at Pune’s Seasons Mall, Magarpatta City, the store is spread across 750 sq ft and will house wide collection of eyewear with over 200 international designs.
Interestingly, the store is equipped with world class technology and also offers free certified eye test.
It is the 175th store of the eyewear major in the country.
Reliance Retail which recently announced revenue of Rs 3,474 crore for the quarter which is a 53 percent jump from Q3’12, has been able to achieve the numbers contributing to the various retail format it operates. It has reported an operating profit of Rs 70 crore and the variation in formats has helped the company achieve scalability. Continue reading Reliance Retail: The new numero uno in Indian retail industry→
One of the key names in Indian retail industry, Bijou Kurien steps down from his post of President & CEO, Reliance Retail Lifestyle Division. He has been a part of one of India’s leading retail conglomerate from past seven years and will also quit from the boards of the joint ventures with UK’s Marks & Spencer’s and Vision Express, among others.
Kurien, 54, plans to take a break for personal reason and will be pursuing other options after the break. He had spent nearly two decades at Titan Industries before joining Reliance Retail.
Kurien, currently, also serves as the Chairman of FICCI’s Retail Committee.