Reliance Digital opened the third consumer electronics store in the IT Capital of Asia, Bangalore / Bengalooru. The store measures 23,000 sft and offers 4,000 products for consumers. It is a one stop shop for all consumer electronics, IT products, mobile phones and consumer communication products and also consumer durables.
The company has set an ambitious target to achieve a sales turnover of $5 billion by 2011, approximately Rs 20,000 crore by today’s dollar value or if you consider Rs 35 / dollar, then a sales turnover of Rs 17,500 crore by 2011. The figure sounds little bit too ambitious as there are several early players in the market like Next, Viveks, e-Zone, Electornics Bazaar and Tata Croma.
Mr. Baijal, President of Consumer Durables said,
We plan to open a total of 150 Reliance Digital stores across 70 cities over the next three to four years.
Reliance is also a Master Franchisee for Apple products in India. Reliance iStore is located on MG Road in Bangalore. Their are speculations that they plan to introduce the iPhone in India.