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Chennai, March 4 Reliance Retail Ltd has announced the signing of a joint venture with Pearle Europe for the launch of a chain of optical stores in India.

The chain will comprise independent stores, and stores within Reliance Retail’s Hypermart, Super and Wellness stores.

According to an official statement, the joint venture will bring world-class retail optical stores to India, with a range of private label frames, lenses, sunglasses and contact lenses and solutions.

The joint venture, which will be seeking regulatory approvals, is expected to be formalised within the next few months.

The statement, quoting Mr Bijou Kurien, President and Chief Executive, Lifestyle, Reliance Retail, said: “This joint venture underscores our commitment to bring world-class partnerships to India, to service the changing needs of the customer; blending the outstanding capabilities of Pearle Europe, a leader in the optical retail industry, and Reliance Retail, which is seeking to transform the Indian retail industry.”

Pearle Europe is a subsidiary of HAL Investments, the European investment subsidiary of HAL Holding NV an international investment company based in the Netherlands Antilles.

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Reliance Retail ties up with Pearle Europe

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