Mukesh Ambani-led Reliance Retail said on Thursday its nation-wide expansion plan has not been affected by problems in Uttar Pradesh and West Bengal, although operations in the two states have been put on hold.
“It (what happened in UP) has not affected our overall plans. We have opened more than 400 stores in last one year and retail expansion is going as per the plan across India,” Gunender Kapoor, Reliance Retail Foods Business President and Chief Executive, said.
He, however, said following protests from small traders and government intervention in Uttar Pradesh and West Bengal, the company has stalled its operations in the two states.
Earlier, Reliance Retail Lifestyle Division President and Chief Executive Bijou Kurien had said the company would wait till the Uttar Pradesh government’s next step based on the report of committee set up to study the impact of organised retail on local traders.
“However, wherever possible we are using the properties which were booked for Reliance Fresh for other format stores,” he added.
Asked about the original number of Reliance Fresh stores had planned in Uttar Pradesh and how the state government’s decision would impact the number, he said: “We are yet to check and arrive at the number of stores which would fall short of the target.”
After foraying into grocery, digital equipment, footwear, apparel and jewellery stores, Reliance recently entered the books and music segment with its ‘Timeout’ store in Bangalore.
Reliance Timeout is the eighth format of the company, which plans to invest 25,000 crore in the next four years in 784 cities across India.
