Reliance Retail is dreaming to grow big this year as the biggest business conglomerate in India is sure about its growth potential. The retail giant, which has survived through the toughest period caused by the economic slowdown, is now set to fly high tapping more opportunities.

As per the latest updates, Reliance Retail has major plans to launch more than 100 stores by the fiscal year end that officially ends in March 2011. The stores openings will be in all formats as a part of the aggressive expansion strategy the retail group is considering to adopt.

During a retail summit, Bijou Kurien, President and Chief Executive of Reliance Retail said, ““We will open 100 to 150 stores by March. We will be setting up 350 stores during the whole fiscal.”

Kurien mentioned further that the retailer expects to double the number of its stores with an objective to meet its Rs. 45,000 crore (USD9.71 billion) revenue target within the next five years. He said that Reliance Retail is keen to expand its footprint in the North East of India and Bihar.

According to Kurien, Marks & Spencer Reliance India, a 51:49 joint venture operation between Marks & Spencer and Reliance Retail, also expects to increase its store count from 21 stores to 50 within the next three years.

Reliance Retail: LinkedIn Company Profile
Mukesh Ambani-led Reliance Retail is India largest organised retail company with both Value format & Speciality formats, with a pan India footprint and with over 1000 stores. The company has recently changed management in value format and is on a fast expansion spree. Investors believe that there are tremendous growth opportunities with Reliance Retail.