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Reliance retail juggernaut rolls out

HYDERABAD: Billing counters at the Reliance Fresh store in Banjara Hills got busy scanning barcodes as the Rs 25,000-crore Reliance Retail venture clocks its first day in business. Its template, when translated into action, has all the trappings of creating a retail behemoth. The blueprint of Reliance Retail envisages covering 784 towns, spanning 100 m sq feet retail space and targeting a top line of Rs 1,00,000 crore by ’10-11. At the launch of Reliance Retail’s first set of 11 stores in Hyderabad, president and CEO (operations & strategy) Raghu Pillai said, “In the next 18-24 months, we will cover the top 70 cities across multiple formats. By March-April ’07, we will be rolling out other retail formats catering to segments like consumer durables, hypermarkets, music/entertainment, pharmacy, specialty stores and lifestyle products.” Reliance Fresh, the 2,300 sq ft format, will stock high-frequency consumables. Its other formats like hypermarkets may spread across as much as 1,50,000 sq ft. The company is likely to trigger a regime of aggressive pricing in items of daily consumption as it competes with the mom & pop stores, cornerside vendors and rival retail chains. On the pricing strategy, Reliance Retail CEO (foods) Gunender Kapoor said, “For basic offerings, we will offer various price points. Pricing strategy will be market-driven and will be uniform across our 11 stores in the city.” Apart from the fresh fruits and vegetables, the stores will soon start stocking non-veg items (both fresh and packaged) in a separate enclosure. “The supply chains for both veg and non-veg items will be separate,” said Mr Kapoor. Commenting on the rationale behind multiplying pilot stores in other cities, Mr Kapoor said, “We cannot just rely on feedback from pilot stores in one city. People have very local tastes when it comes to food. While we want to offer global services, we want to cater to local flavours.” Some very local offering in the Hyderabad store includes pooja flowers, targeted at the neighbourhood. Reliance Retail is looking at pumping up bulk of the investments into doing up the backbone of the business, its supply chain and backend integration. “What you see is a very small part of what we have done. We have done enormous work in the backend operations,” Mr Pillai said, pointing at the first store in upmarket Banjara Hills in Hyderabad, a traditional test-bed for various products and services. Interestingly, the company is also looking at cashing in on its supply chain investments by actually doing business with the trade. The company will roll out its wholesale format, Ranger Farms, in the fresh segment to cater to pushcart vendors and small stores.

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Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with turnover of Rs. 73,164 crore (US $ 16.7 billion), cash profit of Rs. 12,087 crore (US $ 2.8 billion), net profit of Rs. 7,572 crore (US $ 1.7 billion), net worth of Rs. 40,403 crore (US $ 9.2 billion), and total assets of Rs. 80,586 crore (US $ 18.4 billion). RIL is the first and only private sector from India to feature in 2005 Fortune Global 500 list of 'World's Largest Corporations' and ranks amongst the world's Top 200 companies in terms of profits. Reliance in now putting up a completely export oriented unit with 30 MMPTA capacity under Special Economic Zone (SEZ) at Jamnagar. Construction will commence very shortly and the project is schedule to go into operation by March 2008. RIL group is about to establish yet another industrial landmark by putting up the world's largest grass root refinery totally dedicated for exports with an outlay of over Rs. 27,000 crores. RIL group, as a corporate citizen, has always believed in creating "employability" apart from providing employment. Towards this, it is process of establishing a World Class Craft Training Institute This world class facility will have latest generation equipments and machineries imported from best of class manufacturers and will be located at Jamnagar. The Scheme We will bring in thousands of youngsters - skilled / semi skilled / partially skilled / unskilled from all over the country and provided temporary barracks - labour accommodation with full facilities through contractors. The institute will train them in respective trades with proper process for "Certification". Current estimate warrants training of (assuming 50% will be Certified): Welders - 8000, Carpenters - 5000, Pipe Fitters - 5000, Grinders - 5500, Mill Wright Fitters - 2000 Immediately on certification, they will be absorbed by our contractors and be deployed on our world scale project at Jamnagar for a period of approx. of 2 years. Thereafter, Reliance is confident that these skills, which are badly required, will have an unlimited market and therefore, offer a great earning future prospect to these youngsters around the globe.