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India : Reliance to take on retail industry |
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2004-8-2
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What else can one expect, but a master stroke from Reliance Industries!
Aware that India''s Rs 22,500 crore retailing industry was galloping at an unbelievable pace (grew by 25 percent last year), Reliance had to go for it. Incidentally, there are estimated 4.3 million retail outlets, of which the organised sector accounts for less than 2 percent only!
Shall we say move over WalMart or J.C. Penney, here comes the Indian juggernaut: Reliance.
Shopping malls and hyper malls and what not, all over the country, is what Reliance has up its sleeves, though the company is yet to reveal all.
While the Indian consumer is just started releasing his money bags, very evident in the fact that malls and shopping plazas opening by the hour literally, catering not just to mid to high-end customers but also to the mass market, would be Reliance’s aim at providing consumers a complete shopping experience.
With retail petrol pumps, Reliance Infocom shops and now, hyper malls and super markets, the next one year will see the company fighting and biting in to the market share of the likes of Arvind Brands, Raymonds, Madura, S Kumar’s and others even as Walmart and their ilk plan launches in India, savoring on Indian consumers while treating them as Kings & Queens. |
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