Reliance to open five cash & carry stores in the next quarter

Two stores expected to come up in north and west and one in north

Reliance Retail plans to launch five cash & carry stores in the country in the next quarter, a key company official said here today.

Reliance Retail announced the launch of its second cash and carry store in the country, called 'Reliance Market' here after Ahmedabad.

"Right now, we have five additional stores that are coming up", CEO of Reliance Market, a division of Reliance Fresh Limited, Randall Guttery told reporters. "They will come up within the next quarter".

While two each are expected to come up in the north and west, one is planned to be opened in the south. Guttery did not name the five cities for "competitive reasons".

He indicated that the company is currently focused on making the cash & carry format work and understanding the requirements of customers.

"We will first go slow. Once we make it work, then we will grow fast," he said.

Guttery termed the Reliance Market located in Ahmedabad "magnificiently successful", with 1,08,000 business partners, including 17,000 local kirana traders.

On the 50,000 sq ft Bangalore Reliance Market, the company said that it has a collection of over 8,500 products, both food and non-food, with more than 85,000 business partner members already enrolled.