Reliance to sell electronic goods too

Billionaire Mukesh Ambani's retail venture will soon start selling electronics goods like refrigerators, TVs and computers, even as it prepares to open its 100th fresh food and vegetables outlet in the country.

Reliance Retail, which has spent about Rs 2,000 crore (Rs 20 billion) on real estate acquisitions in the national capital, is likely to open its 100th Reliance Fresh store in New Delhi this week.

Separately, the company also plans to open its first Digital Electronics Store, possibly in the national capital region, for selling TVs, refrigerators and other goods. The outlet would be spread over an area of 50,000 sq ft.

"The 100th store will be opened soon possibly in Delhi or Pune," a Reliance Retail official said, but did not elaborate.

The company has so far opened 99 Reliance Fresh stores, spread over a total carpet area of 2,50,000 sq ft, across cities since its launch in Hyderabad in November last year.

Reliance Retail, whose parent Reliance Industries Ltd has earmarked an investment of Rs 25,000 crore (Rs 250 billion) by 2012 in the retail business, targets a revenue of Rs 90,000 crore (Rs 900 billion) from its various formats like hypermarkets, supermarkets and speciality stores by 2010.

So far, the company has unveiled only fresh food stores, which industry sources say, have been averaging a sale of Rs 3.5 to Rs 4 lakh a day.

The NCR alone has 24 stores that account for over a quarter of its total fresh food business. Reliance Fresh stores sell farm fresh products like vegetables and fruits and dairy products, besides frozen foods, groceries and cutlery.