Reliance Industries Limited (RIL) on Friday rolled out its retail
initiative by throwing open the first set of 11 pilot stores here,
marking its foray into organised retailing of food products under the
brands `Fresh' and `Select'.
While `Fresh' products include fresh fruits, vegetables and dairy
products, other food items like bread and snacks are classified under
the name `Select'.
The Chairman and Managing Director of RIL, Mukesh Ambani, said in a
message telecast at the Banjara Hills outlet that it was a small step
in the company's initiative to create a virtuous circle of prosperity
by bringing farmers and consumers in a win-win partnership. "The
retail offering will deliver unmatched affordability, quality and
choice to the consumer and help us fine-tune our offering by listening
to and learning from consumers,'' he added. Interacting with the media
later, RIL President and Chief Executive (Operations and Strategy),
Raghu Pillai, said the company had planned to set up one such retail
store for every 3,000 families and within a radius of two kilometres
across all locations by 2010-11.
This would involve a Rs. 25,000-crore investment, create half a
million jobs and indirect employment to one million more, he said.
The President and Chief Executive (Agri-Business), Sanjeev Asthana,
said the initiative was designed to give the company and the farmers a
distinct advantage. RIL's 68 processing centres across the country
would add value to the products, while consumers would enjoy a clear
nutritional advantage, he said.
Others present included President and Chief Executive (Foods
Business), Gunender Kapur, and Head, AP Operations, K. Venugopal.
As part of the inauguration, RIL unveiled `RelianceOne', a membership
and loyalty programme for frequent shoppers. Customers could become
members while shopping and gain a RelianceOne point for every Rs. 100
spent.
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