Reliance to open five cash & carry stores in the next quarter
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Reliance Retail plans to launch five Cash & Carry stores in the country in the next quarter, a key company official said here today.
Reliance Retail announced the launch of its second cash and carry store in the country, called 'Reliance Market' here after Ahmedabad.
"Right now, we have five additional stores that are coming out of the ground", CEO of Reliance Market, a division of Reliance Fresh Limited, Randall Guttery, told reporters. "They will come up within the next quarter".
While two each are expected to come up in the north and west, one is planned to be opened in the south. Guttery did not name the five cities for "competitive reasons".
He indicated that the company is currently focused on making the cash & carry format work and understand requirements of customers. "We will first go slow. Once we make it work, then we will grow fast".
Guttery termed the Reliance Market located in Ahmedabad "magnificiently successful", with 108,000 business partner members, including 17,000 local kirana traders.
On the 50,000 square feet Bangalore Reliance Market, the company said, it has a collection of over 8,500 products, both food and non-food, with more than 85,000 business partner members already enrolled.
"The store caters to the needs of local kirana traders, small businesses, hotels, restaurants and offices, offering a range of regional, national and international brands to its partner members, at very compelling wholesale prices", Reliance Market said.