Reliance retail to set up 45 'TimeOut' stores by 2010

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{image-retail+mkt01_24012008.jpg}Gurgaon, Jan 24: Reliance Retail Ltd (RRL), the wholly-owned subsidiary of Reliance Industries, today said that it will set up 45 'TimeOut' stores over the next three years.

Speaking at the launch of its second 'TimeOut' store here, President and Chief Executive (Lifestyle) Bijou Kurien said, ''the first store was in Banglore, the second is this one (Gurgaon), and the third will come up at Cochin by the middle of March. We are using these three as pilot stores to get a feedback to move further.'' We are looking to put up close to 45 stores over the next three years, Mr Kurien added.

Reliance TimeOut will offer books, music, stationary, toys and gifts. The company already has a chain of speciality stores--Reliance Fresh, Reliance Mart, Reliance Digital, Reliance Trends, Reliance I store, Reliance Footprint, Reliance Wellness, Reliance Jewels and Reliance Super--running acoss the country.

Reliance Industries has a committed plan of spending Rs 25,000 crores for its retail business.


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