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| Reliance Digital to invest Rs 110-cr to set up 31 stores |
| Press Trust of India / Mumbai Jul 10, 2009, 16:29 IST |
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Reliance Digital, the consumer durables arm of Mukesh Ambani-led Reliance Retail, plans to invest about Rs 110-crore in the current fiscal to roll-out 31 stores across India.
The company, which resells Apple products through its iStore chain, will open 10 outlets by March 2010 along with 21 Reliance Digital outlets, Reliance Retail's President and Chief Executive (Consumer Durable, IT & Telecom), Ajay Baijal, said today.
Presently, Reliance Digital has a 14-strong network and 10 iStores pan-India in destinations such as Mumbai, Hyderabad, Bangalore, Chennai, Ahmedabad, Vadodara, Ludhiana and Jaipur.
"This year, we plan to take the total number of stores (Reliance Digital and iStore) to 55. Each Reliance Digital store requires an investment of about Rs 4-5 crore, while an iStore takes up to Rs 40-lakh," Baijal elaborated.
The company is currently scouting properties for its expansion plans, he said.
While iStores are spread over 1,000-1,500 sq ft, a Reliance Digital store is much bigger, covering 10,000-40,000 sq ft.
The company today launched its tenth iStore in the metropolis and will roll out one more in Chennai next week.
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