Reliance Retail’s much anticipated foray into the retail sector will finally see its fist store opening on Friday, November 03, 2006 in Hyderabad’s posh neighborhood Banjara Hills. The store is a food and grocery small format store and will be followed by 15 more stores in other cities in Andhra Pradesh. Besides fresh fruits and vegetables, the store will also stock packed tapes such as lentils and flour and general merchandise products.
At the unveiling of the store for the press on Sunday, October 29, 2006, Mukesh Ambani CMD RIL said that, “This is the first small step in our attempt to build and forge strong and enduring bonds with the millions of farmers and transform our relationship with the consumers to a new level. We are starting on a pilot journey of listening to customers and learning from them. We still strive to continuously delight them.”
Other cities that Reliance Fresh stores will be opening in are Vijaywada, Vishakapatnam, Chitoor, Tirupathi, Adilabad and Karimnagar. In other states, the stores will open in Ahemdabad, Mumbai and Delhi. The company plans to open stores in 1,500 cities to generate around $2 billion by the year 2010. Reliance will follow three price points, based on the quality of the product: premium, middle and lower. The company’s in-house brand Reliance Select for grocery items was also launched.
Source: The Hindu Business Line
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