Reliance Retail to open 85 Reliance Jewels
Mukesh Ambani-led Reliance Retail plans to open 85 stores of its jewellery retailing business Reliance Jewels across the country over the next three years.
The multi-format retailer, which operates 15 Reliance Jewels outlets, has charted a road-map to give greater focus on metros and large towns.
“We have a five-year plan for expansion, which drills down to (penetration at) the town level. In the next three- years, we want to have a total of 100 Reliance Jewels stores across the country,” Reliance Retail Ltd (RRL) Business Head and Vice-President Jewellery Ashok Kaul told PTI here.
He said the company is planning to set up stores in cities where it already has a presence.
“We are expanding through saturation, so we will open stores in cities where we already have a presence.
Reliance Retail operates jewellery stores in Ahmedabad, Bangalore,Dhanbad, Gurgaon, Hyderabad, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Ludhiana,Mumbai, New Delhi and Vizag.
While he did not specify capital expenditure for the roll-out, Kaul said funding requirements are met from internal accruals.
