The Hindu Business Line : Reliance Retail plans 85 jewellery stores over next 3 years

MUMBAI: Mukesh Ambani-led Reliance Retail Ltd plans to open 85 stores of its jewellery retailing business - Reliance Jewels - across India over the next three years.

The multi-format retailer, which operates 15 Reliance Jewels outlets, has charted a road map designed to give a greater focus on metros and larger towns.

“We have a five-year plan for expansion, which drills down to (penetration at) the town level. In the next three years, we want to have a total of 100 Reliance Jewels stores across the country,” Reliance Retail Ltd (RRL), Business Head and Vice-President , Jewellery, MrAshok Kaul said.

He said the company plans setting up stores in cities where it already has a presence.“We are expanding through saturation, so we will open stores in cities where we already have a presence. We will be adding another eight to ten stores by March 2010 in Mumbai, Bangalore and Hyderabad among other places, for which construction has already begun,” Mr Kaul said.

RRL operates jewellery stores in Ahmedabad, Bangalore, Dhanbad, Gurgaon, Hyderabad, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Ludhiana, Mumbai, New Delhi and Vizag.

While he did not specify the capital expenditure for the roll-out, Mr Kaul said funding requirements are met from internal accruals. - PTI

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