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— G.R.N. Somashekar.

Mr Bijou Kurien, President and Chief Executive, Lifestyle, Reliance Retail, at the launch of Reliance Timeout in Bangalore on Monday.

Our Bureau

Bangalore, Dec. 10

Despite receiving a negative response to its retail expansion footprint in States such as Uttar Pradesh and West Bengal, Reliance Retail will stick to its original target of 2,000 stores by 2011, according to Mr Paresh Chaudhry, Corporate Communications, Reliance Industries Ltd.

Speaking to newspersons at the launch of Reliance Timeout, a books and music store in Bangalore on Monday, Mr Chaudhry said that though the reaction from these two States had limited their capability to expand there, “we will continue to expand in other States.” Mr Bijou Kurien, President and Chief Executive, Lifestyle, Reliance Retail, said that in States where they haven’t faced a problem, they would continue to roll out the stores.

Reliance Timeout, the retail giant’s eighth format store is set up with an investment of Rs 10 crore, Mr Kurien said. Timeout is looking to tap the Rs 3,750-crore books market, the Rs 1,275-crore music market and the Rs 5,000-crore stationery market in the country. The store also stocks merchandise in the toys and gifts segments.

Mr Kurien said that both in the books and music sections, vernacular and regional languages would form a significant part of Timeout’s stock keeping units.

“Indian fiction, self-help, academics and vernacular books and regional music is gaining importance in the country and we want to tap that segment,” he added.

Mr Kurien said that Reliance plans to have two more Timeout outlets (Delhi and Kochi) by March 2008 and 47 stores by 2010.

More Stories on : Retailing | Outlook | Reliance Industries Ltd

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