Chennai, June 12

Reliance Retail has, through its 14 distinct formats, grown to nearly 700 stores across 60 towns and cities. Of this, the Reliance Fresh format, which was the first to be launched, has grown to nearly 600 stores. Mr Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, addressing shareholders at the 34th Annual General Meeting of the company, said that the company’s loyalty programme, Reliance One, has nearly 3.5 million customers enrolled. Describing organised retailing as a major growth platform for Reliance, Mr Ambani said that the group estimates that “our retail business will generate in excess of half-a-million jobs directly over the next five years, and many times that number indirectly”. Mr Ambani said that based on experience over the past 12 months, Reliance has organised its retail initiative to focus on product market formats. This, he said, has also enabled partnerships with global leaders in each domain and provided domain-specific growth opportunities for talent while de-risking the larger organisation from setbacks in any of the formats.

— Our Bureau

(This article was published in the Business Line print edition dated June 13, 2008)
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