Hyderabad, November 3:
Reliance Industries Ltd (RIL), Indiaâ€™s largest private sector company, has launched its $5.6 billion foray into retail trade business by opening 11 pilot stores for selling fresh fruits and vegetables, household staples, top-up grocery and dairy products.
The new enterprise - being powered by group company Reliance Retail Ltd - will eventually have its footprint across the country with future plans for discount stores, malls, supermarkets, hypermarkets, speciality stores and conveniences.
â€œOur target is to open Reliance Fresh stores in 70 cities over the next 18-24 months. The focus is on freshness and hygiene and a world class supply chain has been put into place to ensure that high quality products are offered at very competitive rates,â€ said Gunender Kapur, president and CEO, foods, Reliance Retail.
â€œWe are planning to have a pan-India presence. However, the next city after Hyderabad in which we are going to set up Reliance Fresh is yet to be decided,â€ Raghu Pillai, CEO of operations, Reliance Retail, said.
The 11 pilot Reliance Fresh stores in this Andhra Pradesh capital will remain open from 8 am to 9 pm seven days a week.