Reliance Retail to launch jewellery store in Kolkata by October

Online, June 7, 2010 (Newswire.com) - Reliance Retail Ltd (BOM:500325) plans to launch Reliance Jewels outlet in Kolkata by October. Reliance Industries shares closed tad down 0.03 per cent from the previous close on the Bombay Stock Exchange (BSE).

Biju Kurien, president and chief executive officer of Reliance Lifestyle was quoted by the media saying that the firm has around 18 jewellery stores operational in the country mainly in the north, west and south. The company plans to expand in the regions they are already present and plan to launch their first jewellery store in Kolkata by October.

Reliance Lifestyle is a division of Reliance Retail. The company plans to add around 17 Jewels outlets by Mar 2011. Each of the Jewels outlets spread over 3,000-5,000 square feet.

Reliance Retail, which is owned by Mukesh Ambani's Reliance Industries Ltd, also plans to more than double its number of Time-Out stores by Mar 2011.

Currently there are 8 Time-Out stores operational in the country and we plan to take it to 24 stores by March 2011, Kurien said.

Each Time-Out store spreads over an area of 7,000-12,000 square feet and houses books, music, stationary, toys and gifts. Reliance Retail currently has 14 formats operational across the country.