Reliance Retail to open home format stores
Reliance Retail has reportedly acquired real estate in key undisclosed locations in Kolata and its fringes to unfurl its first wave of home stores.
By Kalyan Parbat, TNN |
KOLKATA: It’s not official yet. But there’s a palpable buzz that Mukesh Ambani’s Reliance Retail may soon launch a maze of swanky home format stores in Kolkata on a pilot basis. Reliance Retail, it is learnt, has acquired prime real estate in key undisclosed locations in the city and its fringes such as Salkia (in the Howrah district) to unfurl its first wave of home stores. The stores will deal in diverse merchandise, ranging from trendy home furnishings, home decor, curios/antiques, lifestyle products to even readymade kitchenware.
Project details remain hazy, but it is learnt that the home solutions retail venture will be nationally anchored by Reliance Retail director Raghu Pillai, starting with the pilot project in West Bengal. If the pilot project in Kolkata is successful, Reliance is slated to launch at least 1,200-odd home solutions stores across the country.
While it could not be independently confirmed, the corporate grapevine has been abuzz with rumours that Reliance Retail may forge a strategic pact with Lowe’s — a leading US-based global retailer of home solutions/appliances. Despite repeated attempts, ET couldn’t get a fix on Reliance Retail’s upcoming plans to launch home solutions stores in West Bengal or its possible partneship with Lowe’s of theUS.
In a written response to ET’s email query dated January 4, 2008, Reliance Retail spokesperson Manu Kapoor wrote back: “We will not react at this stage.” ET had sought a confirmation from Reliance Retail about its recent prime property acquisitions in Kolkata and adjoining areas for launching a string of home format stores. It had also enquired about the company’s possible tie-up with Lowe’s of the US.
Significantly, the company is also silent on whether the prime real estate acquired in Kolkata was originally meant for launching Reliance Fresh outlets, which had to be put on hold last September following political opposition from the Forward Bloc in West Bengal. Accordingly, the timing of the launch of the proposed Reliance home stores remains a riddle at this point.
Project details remain hazy, but it is learnt that the home solutions retail venture will be nationally anchored by Reliance Retail director Raghu Pillai, starting with the pilot project in West Bengal. If the pilot project in Kolkata is successful, Reliance is slated to launch at least 1,200-odd home solutions stores across the country.
While it could not be independently confirmed, the corporate grapevine has been abuzz with rumours that Reliance Retail may forge a strategic pact with Lowe’s — a leading US-based global retailer of home solutions/appliances. Despite repeated attempts, ET couldn’t get a fix on Reliance Retail’s upcoming plans to launch home solutions stores in West Bengal or its possible partneship with Lowe’s of theUS.
In a written response to ET’s email query dated January 4, 2008, Reliance Retail spokesperson Manu Kapoor wrote back: “We will not react at this stage.” ET had sought a confirmation from Reliance Retail about its recent prime property acquisitions in Kolkata and adjoining areas for launching a string of home format stores. It had also enquired about the company’s possible tie-up with Lowe’s of the US.
Significantly, the company is also silent on whether the prime real estate acquired in Kolkata was originally meant for launching Reliance Fresh outlets, which had to be put on hold last September following political opposition from the Forward Bloc in West Bengal. Accordingly, the timing of the launch of the proposed Reliance home stores remains a riddle at this point.
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