Business Daily from THE HINDU group of publications
Wednesday, Apr 25, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Apr 25, 2007 ePaper |
|
|
|
|
|
|
|
Marketing
-
Retailing
Our Bureau
"The prices will be most competitive and if any consumer finds a cheaper product we will not hesitate to match the offer."
PRODUCTS stacked up at a Reliance Digital store at Shipra Mall, Indrapuram in Ghaziabad.
New Delhi April 24 Reliance Retail Ltd, the mega retail venture from the Mukesh Ambani stable, on Tuesday marked its foray into speciality retail with the launch of its first consumer durable outlet, Reliance Digital, in the NCR region. "We plan to open a total of 150 Reliance Digital stores across 70 cities over the next three to four years," said Mr Ajay Baijal, President and Chief Executive (consumer durables, IT and telecom), Reliance Retail Ltd.
One-stop shops
"The stores, typically spread over 15,000-30,000 sq. ft, will function as one-stop shops for all technological solutions in the consumer durables and telecommunications segment to cater to the tastes and requirement of customers," added Mr Baijal. Reliance Digital stores would sell everything from TV sets, home theatres, refrigerators, cooking ranges, dishwashers to computers and mobile phones from across brands. On private labels, Mr Baijal said, "Currently, we have on offer more than 4,000 products from over 150 brands. As part of our overall business strategy, we will have our own consumer durable private labels, but not immediately." With its own labels in the consumer durables segment, Reliance Retail will be fighting for a share of the $5.6-billion domestic market, which is dominated by South Korean brands LG and Samsung and Japan's Sony. On the prices being offered at the Reliance Digital stores, Mr Kamal Nanawati, Reliance Retail Mentor, said, "The prices will be most competitive and if any consumer finds a cheaper product in the market within 30 days we will not hesitate to match the offer." Besides, the stores will also provide pre- and post sales services through its in-house RelianceresQ vertical. The stores will also offer finance schemes for consumers for which the retail majors are in talks for tie-ups with several financial institutions, Citi Financial being one of them. Reliance Digital will also be offering customers RelianceOne, a common membership and loyalty programme across all its formats, which means users would be able to redeem points earned on purchases. Other formats of Reliance Retail such as supermarkets and hypermarkets are due for launch in the April-June quarter. Reliance Industries had last year announced an investment of Rs 25,000 crore for the retail business, which it hopes would help the company earn around Rs 100,000 crore revenues in the next five years, 10-15 per cent of which will be contributed through retailing of consumer durables at its Reliance Digital stores and hypermarkets.
More Stories on : Retailing | Consumer Electronics | Reliance Industries Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|