'Reliance Retail to show performance after two quarters'
Mukesh Ambani-owned Reliance Industries on Monday said its retail venture is in the initial stage of investment mode and its performance would show up after two quarters.
By PTI |
MUMBAI: Mukesh Ambani-owned Reliance Industries on Monday said its retail venture is in the initial stage of investment mode and its performance would show up after two quarters.
"We are in the initial stages of investment in retail and the performance will show after the next two quarters," Reliance Industries Limited's CFO Alok Agarwal said.
Reliance Retail, which struck a deal with Marks and Spencer last week, is operating over 590 stores in 57 cities, spanning 13 states. It has over 3.5-million square feet of trading space.
It operates through 12 distinct store formats -- Reliance Fresh, Delight, Reliance Digital, Reliance Mart, Reliance Trends, Reliance Wellness, Reliance iStore, Reliance Footprint, Reliance Time-Out, Reliance Super, Reliance AutoZone and Reliance One.
The company has entered into two joint ventures - with leading European optical retailer Pearle Europe and UK-based clothing and food chain Marks and Spencer, a company statement said here.
"We are in the initial stages of investment in retail and the performance will show after the next two quarters," Reliance Industries Limited's CFO Alok Agarwal said.
Reliance Retail, which struck a deal with Marks and Spencer last week, is operating over 590 stores in 57 cities, spanning 13 states. It has over 3.5-million square feet of trading space.
It operates through 12 distinct store formats -- Reliance Fresh, Delight, Reliance Digital, Reliance Mart, Reliance Trends, Reliance Wellness, Reliance iStore, Reliance Footprint, Reliance Time-Out, Reliance Super, Reliance AutoZone and Reliance One.
The company has entered into two joint ventures - with leading European optical retailer Pearle Europe and UK-based clothing and food chain Marks and Spencer, a company statement said here.
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