Reliance Retail enters into JV with Pearle Europe

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New Delhi, Mar 4 (UNI) Reliance Retail Limited today said it has entered into a joint venture with Pearle Europe for the launch of its chain of Optical stores in the country.

The chain will comprise of independent stores, and stores within Reliance Retail formats such as Hypermart, Super and Wellness stores. The JV will offer a range of private label frames, lenses, sunglasses and contact lenses and solutions.

''This Joint venture underscores our commitment to bring world class partnerships to India, to service the changing needs of the customer, blending the outstanding capabilities of Pearle Europe, a leader in the Optical retail industry, and Reliance Retail, which is seeking to transform the Indian retail industry,'' President and Chief Executive Lifestyle, Bijou Kurien said.

The joint venture needs to seek regulatory approvals and is expected to be formalized within the next few months.

UNI PDT BJR AS2111

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