The Hindu : Business : Reliance retail takes off

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Saturday, Nov 04, 2006
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Business

Reliance retail takes off

Staff Reporter

Food products to be sold under `Fresh' and `Select' brands

PHOTO: P. V. SIVAKUMAR

FARM FRESH: The new Reliance Fresh retail vegetable store which opened at Banjara Hills in Hyderabad on Friday.

HYDERABAD: Reliance Industries Limited (RIL) on Friday rolled out its retail initiative by throwing open the first set of 11 pilot stores here, marking its foray into organised retailing of food products under the brands `Fresh' and `Select'.

While `Fresh' products include fresh fruits, vegetables and dairy products, other food items like bread and snacks are classified under the name `Select'.

The Chairman and Managing Director of RIL, Mukesh Ambani, said in a message telecast at the Banjara Hills outlet that it was a small step in the company's initiative to create a virtuous circle of prosperity by bringing farmers and consumers in a win-win partnership. "The retail offering will deliver unmatched affordability, quality and choice to the consumer and help us fine-tune our offering by listening to and learning from consumers,'' he added. Interacting with the media later, RIL President and Chief Executive (Operations and Strategy), Raghu Pillai, said the company had planned to set up one such retail store for every 3,000 families and within a radius of two kilometres across all locations by 2010-11.

This would involve a Rs. 25,000-crore investment, create half a million jobs and indirect employment to one million more, he said.

The President and Chief Executive (Agri-Business), Sanjeev Asthana, said the initiative was designed to give the company and the farmers a distinct advantage. RIL's 68 processing centres across the country would add value to the products, while consumers would enjoy a clear nutritional advantage, he said.

Others present included President and Chief Executive (Foods Business), Gunender Kapur, and Head, AP Operations, K. Venugopal.

As part of the inauguration, RIL unveiled `RelianceOne', a membership and loyalty programme for frequent shoppers. Customers could become members while shopping and gain a RelianceOne point for every Rs. 100 spent.

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