12.6.08

Reliance Retail to create Half Million Jobs





Terming organised retail as the major growth platform for Reliance Industries, Chairman Mukesh Ambani said its retail business will generate more than half a million jobs in the next five years.Reliance retail has now grown to nearly 700 stores, comprising fourteen distinct formats, across 60 towns and cities.The Reliance Fresh format, which was the first format launched by the retail venture has grown to nearly 600 stores.The company has tie-ups with UK's Marks and Spencer, European firm Pearle, US-based Apple Inc to operate iStores, with Office Depot for office products and services and with Vornado for retail real estate developments.
Reliance Retail Ltd is planning to open six jewellery format stores-'Reliance Jewels' across the state of Punjab. Reliance Retail, which entered the jewellery retail line in November 2007,has come to Ludhiana after opening two showrooms-at Bangalore and Hyderabad. Eyeing to capture a major share of the organized jewellery retail pie worth Rs 2,400 crore, Reliance Retail has plans to open about 45 Jewellery stores within this fiscal year and 300 stores in India over the next three years.

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