The Building Up Of Indian Wal-mart

[SexyGurl 0]

NEW DELHI: Mukesh Ambani’s retail blueprint is virtually ready. The broad structure includes dividing the country into 21 zones, each headed by a CEO. A revenue target of Rs 90,000 crore will be set by the end of the fifth year. The elder Ambani finally cleared the retail blueprint last month.

According to sources, the company is on a major hiring spree for the project being lead by ex-Infocomm honcho and Ambani confidante, Manoj Modi.

Reliance Industries’ retail model — which would include hyper and super markets apart from large malls — is eyeing revenues of close to Rs 90,000 crore by the end of the fifth year. Each zonal CEO will be given a target of Rs 4,000 crore.

RIL, which has been refusing to comment on the venture, could not be reached despite attempts by ET.

As per the initial plan, the retail business would start with 20 A-class cities and later be expanded to 100 destinations. Each of the larger retail centres, sources say, would be spread over 100 acres and would house entertainment facilities, a small hospital complex, eateries and a big mall.

RIL is believed to have set aside an investment of Rs 30,000 crore over the next five years and that could allow it to emerge as the largest player in this sector. During the past six months, RIL has approached many state governments for necessary clearances and acquisition of land.

Full Article at this url: http://economictimes.indiatimes.com/articleshow/1259134.cms

[Chirag 5]

Pantaloons is not going to stay quite! They are in for some big plans as well... lots of properties are being developed by all these giants these days!! Architects have enuf work Building industry is all booming!

[city02 63]

Yes, but Pantaloon will have to be content with #2 status in the org mkt until retail FDI is opened up (over the Left's dead body)

unless Wal-Mart is allowed in, no one domestically can compete with the deep pockets of RIL - they will simply out spend anyone to capture mkt share...