Reliance Retail Limited is eyeing a turnover of around $5 to $5.5 billion in home durables including consumer electronics, telecom and home IT across all its formats by 2011, a top official from the company said.
“We are hoping to touch a turnover of around US$5-5.5 billion in home durables across all our formats by 2011,” Ajai Baijal, president and chief executive, Reliance Industries (CDIT business), told the media on the sidelines of the launch of its Reliance Digital store in Bengaluru.
“The current domestic market size of home durables, which includes consumer electronics, telecom and home IT, is Rs 70,000 crore, and this is growing at 20 per cent per annum,” Baijal noted.
Baijal said the firm was looking at opening 150 Reliance Digital mega stores across the country, including 10 in Karnataka, by 2011. Out of these 150 mega stores, 20-25 per cent will be in metros, he said.
“We will soon be launching one such store in Hubli and another in Hyderabad,” Baijal said.
– Bengaluru Bureau