Reliance Retail to open 100 stores on 28-DEC-2006

Breaking News: 22-NOV-2006 22:30 Hrs, Mumbai

Our Reliance insider has tipped that chief –Mukesh Ambani has ordered to open 100 stores simaltenously in 6 Indian cities on 28th of December 2006, coinciding with the birth anniversay of Reliance Industries Ltd founder, Late Shri. Dhirubhai Ambani.

Reliance will open Reliance Fresh stores in Bangalore / Bengalooru, Chennai, Jaipur, Ahmedabad. Reliance Fresh has 11 operational stores in Hyderabad and each store earns them an average profit of Rs 100,000 every day. Pantaloon Retail India Ltd’s Future Bazaar earns Rs 500,000 every day but it also stocks FMCG goods which Reliance Fresh doesn’t.

The first Reliance Megamart will open in Feb-2007.

Tags: Retail India, Reliance Retail, Reliance Fresh, Pantaloon Retail