Reliance Retail to open 45 books and music stores by December 2014
Mukesh Ambani-led Reliance Retail Ltd plans to open a total of 45 stores of its books and music retailing business—Reliance TimeOut—across India over the next 3-5 years.
The multi-format retailer, which operates seven stores of TimeOut, said it wants to tap India’s Rs3,500 crore book retailing industry, of which only 40% is organised.
In the next 3-5 years (or December 2014), we will have a total of 45 TimeOut outlets across four states-mainly in western and southern India. Our strategy is to first saturate a town, then a state followed by the entire region, Reliance Retail, business head, Reliance TimeOut, Deepinder Kapany said.
More : livemint.com