Vision Express, the joint venture between Reliance Retail and Dutch optical retailer Pearle Europe, has announced that it is embarking on an expansion spree with plans to open 60-70 outlets every year and tap large format stores and malls.
Interestingly, in a significant departure from the earlier strategy of opening outlets either in a standalone format or in Reliance Retail's stores, the JV in which the Mukesh Ambani- promoted retailer has 50 per cent stake, will move into rival Aditya Birla Group's 'More' hypermart by opening an outlet at Baroda.
"Our plan is to open 60-70 outlets every year. The areas we are looking to tap are the malls and large format stores," said Guillame Brouwet, Chief Executive Officer,
Vision Express. He, however, refused to share the company's investment plans