Moneycontrol
Mar 20, 2017 01:32 PM IST | Source: Moneycontrol.com

Reliance Retail may spend Rs 2,500 cr for business expansion in next 3 yrs

The company has also has plans to add 500 to 600 fuel stations and the combined business expansion cost is estimated at Rs 2,500 crore, property market sources told the newspaper.

Reliance Retail may spend Rs 2,500 cr for business expansion in next 3 yrs

Moneycontrol News

After an aggressive entry in to the telecom space, Mukesh Ambani-led Reliance Industries is looking to ramp up its retail business.

Reliance Retail is expected to open 200 fashion stores under Reliance Trends, a similar number of food and grocery stores in its Fresh and SMART formats, and around 300 wholesale outlets as part of Reliance Market over the next three years, reports the Business Standard.

The company also has plans to add 500 to 600 fuel stations and the combined business expansion cost is estimated at Rs 2,500 crore, property market sources told the newspaper.

Till now, Reliance was focused on Jio and was in consolidation mode with its retail business, Raman Mangalorkar, chief executive at Atom Data Labs told BS.

He added that it is now stepping up the growth and roll-out of its retail plans.
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