With the clear directive of massive expansion from seniors, Reliance Industries has bought major real estate needed for 3000 stores.
Instructions have been passed to the central team executing the expansion plans to open 30 stores by September, 260 by November 15, 1,000 by March, 2007 and 3,000 by June 2007 which is just a fraction of the company's actual intentions.
The central team stated that by late evening on Saturday incharge of retail plans Manoj Modi finally agreed to these estimates. He also directed the company to open much more stores than currently expected.
Reliance officials assured that within two weeks the company's first retail store will open in Hyderabad despite passage of the September 1 deadline.
With Jallandar, Ludhiana, Lucknow, Jamnagar and Delhi being prime destinations, Reliance Retail wants its stores to be present in minimum 67 cities by June 2007. Company officials have stated that 13 cities will have Reliance stores by November.
By December 15, Ahmedabad will have the first hypermarket spread over an area of 1 lakh square feet, having more than three storeys. It will also have a multiplex and facilities like auto accessory centre and grinder.
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