Reliance Retail for JV with Pearle Europe for optical business
Reliance Retail Limited (RRL) announced the signing of a Joint Venture with Pearle Europe for the launch of a chain of Optical stores in India.
By INDIATIMES NEWS NETWORK & AGENCIES |
MUMBAI: Reliance Retail Limited (RRL) announced the signing of a Joint Venture with Pearle Europe for the launch of a chain of Optical stores in India.
This chain will comprise of independent stores, and stores within Reliance Retail formats such as Hypermart, Super and Wellness stores.
This Joint venture will bring world class retail Optical stores to India, with a range of private label frames, lenses, sunglasses and contact lenses and solutions.
Contemporary optometric technology backed by trained optometrists and support staff will create new levels of service and reliability in the Optical industry.
Commenting on the launch of the Joint venture, Mr. Bijou Kurien, President and Chief Executive Lifestyle, said ���This Joint venture underscores our commitment to bring world class partnerships to India, to service the changing needs of the customer; blending the outstanding capabilities of Pearle Europe, a leader in the Optical retail industry, and Reliance Retail, which is seeking to transform the Indian retail industry.���
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Pearle Europe is a subsidiary of HAL Investments, the European investment subsidiary of HAL Holding N.V. an international investment company based in the Netherlands Antilles. Pearle Europe operates 2,200 optical retail stores in 21 countries across Europe and the Middle East. HAL Investments also owns a number of optical retail chains in emerging markets, such as China, Russia, Turkey and Brazil. The joint venture will be seek regulatory approvals and is expected to be formalized within the next few months.
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