Reliance fresh braces up for 100th store

New Delhi, Apr 15 (UNI) Even as the world's largest retailer Wal Mart iIs yet to ink the cash-and-carry venture with Bharti, Reliance Retail will open its 100th store soon.

''The 100th Reliance Fresh store will be opened soon possibly in Delhi or Pune,'' a Reliance Retail source said.

The Mukesh Ambani-controlled company garnered average sales of five lakh rupees per store in the last six months, more than double of the expected figure of two lakh rupees a store, the sources added.

Rival discount retail chain Subhiksha too is aggressively moving towards the 1000th store and aims to reach it by the year-end, spanning investments worth Rs 500 crore.

Of this, Rs 350 crore have already been utilised for setting up 650 Subhiksha stores in Delhi and NCR, a company official said.

''With our expansion in Delhi and NCR almost achieved, we will enter eastern India through West Bengal within the next three months,'' he told UNI.

Bharti-Wal-Mart's maiden store is likely to be rolled out in the first quarter of 2008 with the company planning to open similar retail outlets throughout the country.

As per the plans, the company is looking at 10 million square feet of retail space, which will include hypermarkets, supermarkets and convenience stores.

Reliance Retail, so far, has opened 96 Reliance Fresh stores, spread over a total carpet area of 2,50,000 sq ft, across India with Delhi having 24 stores at present and accounting for 30 per cent of the total sale, the sources said.

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