Reliance Retail’s Business Strategy for Lifestyle

Reliance Retail’s Lifestyle Division CEO Bijou Kurien has updated the Groups Business Strategy for the next 12-18 months and here is an excerpt from the same,

  • Reliance Timeout will grow to 20 stores while Reliance Jewels will hit 50 stores by 2011 and they are close to store level break-even point already
  • Over half of Reliance VisionExpress stores have already broken even
  • The Marks & Spencer brand has been repositioned to compete in the mid-market. Reliance plans to open bigger stores of around 20,000 sft in size where SKUs will be extended from personal care, accessories home ware etc
  • Office Depot JV is functioning as a B2B segment targeting SMEs
  • Lifestyle division stores will co-exist with Reliance Hypermarkets
  • Reliance TimeOut adopted a strategy of promotions and did 200 within 11 months to beat the slowdown blues.
  • Toy category is underdeveloped in India. To showcase and sell toys with its JV Partner Hamleys through LARGE stores. First one will open in Mumbai

Finally, Reliance is catching up with the Pioneer – Future Group.