Source: Business Standard, Dec 09, 2016
Mumbai: Mukesh Ambani’s Reliance Retail plans to add six times the current number of its cash and carry (wholesaling) stores over the next three years.
The company is planning to set up 300 of these in another three years, to take on the likes of Walmart, Metro and others, said a source. Experts feel with the cost of fitouts, land and construction, they’d need to spend about Rs 4,000 a square ft or Rs 4,800 crore for 300 stores.
This is the second such big expansion by Reliance Retail. It had added hundreds of Reliance Digital stores which also acted as sales and service points for its Jio telecom service.It has 45 cash & carry stores under the Reliance Market brand at present, the average size being 40,000 sq ft. It opened the first Reliance Market in 2011 and has expanded to 37 cities; it claims about 2.5 million members.