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Hyderabad, March 7 Reliance Retail, which recently forayed into jewellery retailing, will simultaneously take the franchise route to open 300 Reliance Jewels stores in the country by 2011-12.

“Of the 300, at least 100 would be franchises,” Mr Bijou Kurien, President and Chief Executive of Reliance Retail’s lifestyle arm, said.

Addressing a press conference here on Friday, he said the company would pick existing players in the jewellery business and also those who have experience in retailing as franchisees. He was here in connection with the opening of Reliance Jewel’s second outlet (the first one was opened in Bangalore) here.

“We will open 12 stores in Andhra Pradesh,” he said.

Stating that the size of the jewellery market in India was put at Rs 80,000 crore, he said only three per cent was in the organised sector, while 20 per cent was in the hands of regional and local brands.

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