Reliance Trends will cross the milestone of 100 stores across the country before the end of the current fiscal, said its Chief Executive Arun Sirdeshmukh here on Monday at the inauguration of the company's 50th store.
Talking to the media, he said the specialty format arm of Reliance Retail was poised to become the biggest in the country by this August when it would have opened over 60 stores. The first Reliance Trends store started operations on October 1, 2007, and at the close of three full years by March, 2010, its turnover was an estimated Rs.330 crore.
Buoyed by an appreciable performance that included doubling of turnover in the last two years and increasing patronage, he said the company was forging ahead in tune with its vision making the latest fashion accessible at affordable prices to people in Tier-II towns too, apart from the metros and other big cities.
“If others in the business are looking only at the top 10 cities that contribute to 70 per cent of their turnover, we are keen on increasing access to people in other cities and towns and fulfilling aspirations of a fashion-conscious section of society. There is a huge business opportunity and we aim to leverage it,” Mr. Sirdeshmukh said.
In the specialty apparel format, the company stocks 100 brands and owns 16 of them across men, women and children categories to fulfil every customer need. Interestingly, he said 50 per cent of the turnover came from the 16 private brands that were being promoted aggressively, alongside international brands.
Keywords: Reliance Trends