Reliance Trends hits half century mark
Reliance Trends, the apparel, luggage and accessories specialty retail outlet under Mukesh Ambani owned Reliance Retail Limited, has achieved yet another milestone within its short run of four years with the inauguration of the 50th Reliance Trends store in the city of Hyderabad. A fourth for the city, Reliance Trends Chief Executive Arun Sirdeshmukh inaugurated the store in Hyderabad with much fan fare; with two more store launches awaited this week in Siliguri and Bangalore.
Eyeing an optimistic future for the retail chain, Arun Sirdeshmukh is positive that Reliance Trends will become the single largest retailer of its kind in the country by 2012. With a turnover surpassing Rs. 330 crore score, Reliance Trends is looking at hitting 100 stores mark by spring next year. The Mukesh Ambani owned subsidiary has encountered a manifold increase in its annual turnover over the last two years and the hopes are buoyant about achieving the long standing vision of becoming a standalone that provides latest fashion accessible at affordable prices to people in Tier-II towns, apart from the metros and other big cities.
Following much growth in volume and store count over the last two years, Reliance Trends business model is set to undergo major expansion as the existing business model of providing best apparel products at affordable prices has played to the tunes of the consumer bracket. Sighting huge business opportunities in far-flung townships, Mr. Sirdeshmukh opined that Reliance Trends is keen on increasing its presence in favor of the people from such towns and cities, fulfilling their aspirations of being a part of fashion-conscious consumerism trend.
Reliance Trends carries over 100 brands, both national and international, and 16 self-owned brands. The revenue generated from private brands at Reliance Trends store accounts for almost 50 per cent share. The company plans to rope in more private brands as the response towards the same has been encouraging.
Tags: Mukesh Ambani , Reliance , Reliance Industries , RIL
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