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Reliance Trends opens 50th store

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Mr Arun Sirdeshmukh , CEO of Reliance Trends, at the opening of the store in Jubilee Hills Road, Hyderabad. — P.V. Sivakumar
Mr Arun Sirdeshmukh , CEO of Reliance Trends, at the opening of the store in Jubilee Hills Road, Hyderabad. — P.V. Sivakumar

Reliance Trends, which is expanding its network of retail stores across the country, today announced the opening up of its 50 {+t} {+h} store and fourth in Hyderabad.

The company said that it is poised to become the single largest such retailer with a century of stores by March 2012.

The company also said that private brands, about 16 of them, are already contributing to 50 per cent of its business, which is growing at more than 100 per cent each passing year. “Last year, we closed with revenues of Rs 330 crore and expect to more than double it during the year, both due to growth in volumes and also number of stores,” Mr Arun Sirdeshmukh, Chief Executive, Reliance Trends Ltd, said.

After lunching its 50 {+t} {+h} store here, Mr Arun said “we will launch two more during the week at Siliguri and Bangalore, with the latter having its sixth store. We are confident of adding such huge number of stores as already work is underway. In fact, this number could also go up as the business model of offering products at affordable rates has been received well.”

INTERNATIONAL BRANDS

Reliance Trends has tie-ups with some international brands and several others are keen to be part of the growth story. Just imagine the access for any international brand at one go with 50 stores. Where else would they go? If you look at sales volumes of some of the brands with us, they sell more volumes than their own exclusive outlets, he said.

“For the retail business, we are backed by promoters with deep financial background. Therefore, funding is no issue. We also do not want to comment on FDI in retail. A store of this nature could cost anywhere between Rs 10 crore and Rs 15 crore. This provides some idea about the total investment we could make during the year,” he said.

(This article was published in the Business Line print edition dated July 6, 2011)
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