Indian fashion chain Reliance Trends to open 2000 stores
Indian conglomerate Reliance Industries will expand its low-cost fashion store network Reliance Trends to 2500 locations within five years.
The chain currently has just 557 stores in 160 cites, and will target a presence in 140 more, involving deeper penetration into tier 3 and 4 cities.
The planned expansion will involve an integration with the firm’s online activities and will serve as a gambit to seize a commanding market share of consumer spending against e-commerce competitors Amazon and Flipkart.
The move follows recent restrictions on foreign investment into India that have at least temporarily disadvantaged the online giants. The new legislation bans online retailers from making exclusive contracts with vendors, among other restrictions.
The Reliance Trends expansion is expected to help the firm boost its own labels in a territory that is home to the world’s largest population of millennial consumers.