Reliance Retail Archives - Page 2 of 3 - Inside Retail Asia

[:en]M&S eyes 100 India stores[:zh]M&S 聚焦100家在印度的商店

[:en]British retailer Marks & Spencer plans a rapid rollout in India to grow sales. M&S plans to open 60 new stores in the nation over the next two years, in addition to its existing 40 there. It is targeting to have around 20 lingerie and beauty stores by 2016, the first of which opened in Mumbai earlier this month. “Together with our partner Reliance Retail, we are continuing to invest into accelerating our growth in India as we build a leadership position in the market,” said Venu Nai…

Reliance Retail bounces back

Indian retailer Reliance Retail has reported a strong performance after a seven year struggle. The company says economy of scale and a frugal approach to costs have helped it achieve 34 per cent jump in revenues to Rs 14,496 crore and pre-tax profit of Rs 363 crore ($60.3 million) in the last fiscal year. “Reliance Retail has turned around and is now the country’s largest retail chain,” said RIL chairman and MD Mukesh Ambani. Last year 225 new stores were added, taking the total c…

Reliance Retail’s ambitious new plan

Mukesh Ambani-owned Reliance Retail is looking to new avenues to facilitate growth and increase revenues. Reliance Retail says it is keeping a close eye on the competition from both other retail chains and neighbourhood stores. It is also identifying certain places at which it hasn’t been doing as well as these local stores and converting large hypermarket stores into wholesale cash-and-carry stores. “Reliance Retail continues to evaluate its offerings and realign them in specific location…

Reliance Retail cancels restaurant plans

Mukesh Ambani-owned Reliance Retail has decided not to go ahead with its planned restaurant businesses. The company had earlier picked up a 45 per cent equity stake in Two Sisters Foods India (TSFI), which belongs to 2 Sisters Food Group (2SFG), the third largest food company in the UK, which supplies poultry, red meat, fish and bakery and chilled/frozen products to the retail, food service and food manufacturing sectors. Reliance Retail planned to set up quick service restaurants ‘Chicken…

Indian Apple stores shuttered

Reliance Retail will close 16 of its 20 exclusive Apple iStores in India. The stores will close because they do not comply with Apple’s global store design format. “Of the 16 stores, 12 of them did qualify as per the new Apple norms. But the group decided to convert them into Digital Xpress (outlets) since the locations are prime. These stores will also sell Apple products along with all other leading electronic brands,” said a senior executive who runs a chain of Apple stores. “Moreove…

Payless ShoeSource enters India

US specialty footwear retailer Payless ShoeSource is continuing its global expansion with a franchise deal for India. Payless ShoeSource has signed an exclusive pan India franchise arrangement with Reliance Retail, which will replicate the experiential elements of Payless stores around the world and offer an entire footwear and fashion offering to the family. Today, Payless has 258 franchised stores in the Middle East, Asia and Eastern Europe. “A cornerstone of the Payless strategy is t…

M&S makes India priority

British retailer Marks & Spencer (M&S) says India is its fastest growing market in Asia and it plans to double its presence there. M&S is targeting around 80 stores in the market by 2016, as part of its ongoing strategy to become a leading international, multi-channel retailer. The plan is to double its presence in India with its partner Reliance Retail to see the country become M&S’s largest international market outside of the UK. “India is a priority market for M&S…

Reliance Retail goes online

Reliance Retail is vying for a slice of India’s e-commerce market. Sources have told Indian news media that a technical team of the company is working to create a marketplace model which could go live within six to eight months. Marketplace is a website which allows merchants and individual traders to sell their products through their system, for either a percentage of the sale or for a listing fee. “If the marketplace model makes sense, we will do it. We are evaluating all possibilities. …

M&S plans more India stores

British retailer Marks & Spencer is unfazed by the slowing Indian economy and plans to open more stores there. M&S says it is planning six to eight new stores in the market over the next six months in addition to the 35 currently operating though a joint venture with local partner Reliance Retail. “We have just opened our 35th store. At the moment, demand is fantastic. While a lot has been written about the slowdown here, we continue to see growth,” said M&S Reliance India MD V…

Reliance Retail sets turnover target

Indian retailer has high hopes for cash-and-carry business.

Reliance Retail opens new concept

New store targets gadget lovers.

Reliance Retail turnover surges

Indian retailer reports turnover growth of 48 per cent in the first half.