Reliance Retail acquired Adani outlets to become speciality stores
21 Mar '07
2 min read
AHMEDABAD: Reliance Retail plans to transform general purpose outlets, which it had recently acquired from Adani Retail, into speciality stores such as jewellery, medicines, specs, home furnishing, telecom and even consumer electronic outlets.
While Reliance is yet to formally get possession of Adani outlets, it is said to have shelled out Rs170-190 crore for the deal.
Of the 26 outlets in Ahmedabad, around 10-15 will get transformed into speciality stores.
Reliance plans to start operations with 10 outlets, later increasing it to 16 with plans for two mega outlets in Vadodara.
Adani group has withdrawn its in-house brand 'Advantage' it was selling exclusively through its retail outlets.
The size of Adani outlets is not large enough to convert them into Reliance Fresh. Minimum area required for Reliance Fresh stores is around 4,000 sq ft while outlets acquired are mostly around 2,000- 3,000 sq ft.
To overcome this problem, specialised stores selling single product category will be created in these outlets, a senior Reliance Executive said.
Most of the 56 Adani outlets are located in Ahmedabad, Vadodara and Rajkot.
About half of the total outlets in Ahmedabad, Vadodara and Rajkot will be specialty outlets, with outlets in smaller cities such as Anand, Nadiad, Mundra, Gandhinagar and Navsari largely having smaller format Reliance Fresh stores, sources said.
Reliance Fresh's first outlet will be launched in March end in Ahmedabad whereas outlets acquired from Adani will be launched by April end.
"All our retail outlets will have differentials in terms of service, offerings and prices. While these will be relatively smaller outlets, we are also searching for sites to develop large-format exclusive furniture stores in Ahmedabad," said the Executive.
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