Reliance Retail on expansion mode

Reliance Retail has announced that its lifestyle business is on an expansion drive, fuelled by good sales, especially in the last six months. Planning to invest Rs 150 crore on expanding the ‘Reliance Timeout’ and ‘Reliance Jewels’ retail chains, considering the falling rates of real estate. The lifestyle division plans to double the store count of ‘Timeout’ (which sells books, music, stationery, toys and gifts) by the end of March from six stores currently. The jewellery retail chain Reliance Jewels will also see its network expand from 14 stores to 24 by March 2010. Jewellery stores will be set up mostly in Mumbai, Delhi and Andhra Pradesh. Reliance Retail entered the branded jewellery business in 2007 with the launch of the first Reliance Jewels showroom in Bengaluru. The same year, the first Timeout store was also opened again in Bengaluru.