Reliance Digital to pump Rs 110 crore on the setup of new stores
Mukesh Ambani owned Reliance Retail (RRL) has decided to invest about Rs 110-crore in the current fiscal to roll-out 31 stores across India.
The company plans to take the total number of stores including Reliance Digital and iStore to 55, by this year.
Reliance Digital provides home appliance, consumer electronics, IT and telecom products. While i store is a Apple Premium Reseller store, which exclusively deals with Apple products.
The company intends to open 10 iStore and 21 Reliance Digital outlets by March 2010.
According to a company official, each Reliance Digital store requires an investment of about Rs 4-5 crore, while an iStore takes up to Rs 40-lakh.
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.