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Reliance Retail, a subsidiary of Mukesh Ambani owned Reliance Industries Limited (RIL), is ready to commence the process of implementation of its pre-empted expansion plans, which have so far been stalled due to frosty economic conditions. The supermarket and hypermarket chains of Reliance Retail Ltd. are now ready to expand following a change in management that will undertake the task of changing the overall format of Reliance Retail. Earlier last month, Reliance roped in new members for top level management of Reliance Retail from Wal-Mart China. Ex-Wal-Mart heads Rob Cissell and Shwan Gray have stepped into the Reliance format and they will be taking over as chief executive officer (CEO) and chief operating officer (COO) of the Reliance Retail business respectively. Their principle role will be to turn around the retail business of Mukesh Ambani led subsidiary and make it profitable within the next two years. As for changes in retail structures, the process of overhaul will mainly focus of revamping cash and carry, FMCG and consumer electronics segment. Reliance Retail intends on doubling its store count in each of these segments within this year. Bijou Kurien, President and Chief Executive-Lifestyle, Reliance Retail noted, “We've identified the problems and have set the stores on the new path.” Under its previous management, Reliance Retail had been in the process of reformation of the entire value chain but the new management, now ready to take on the reins of the entire company, is expected to gradually improve upon and make profitable the big format that Reliance Retail is. Putting Reliance Retail on an upward trend, the company hopes the new management and its refreshing processes turn the situation around completely for the RIL subsidiary. Reliance Retail currently operates over 90 value and specialty stores, including value formats such as Reliance Fresh and Reliance Mart and specialty formats such as Reliance Digital, Reliance TimeOut, Reliance Footprint, Reliance Trends and Reliance Jewels.
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Mukesh Ambani, Reliance, Reliance Industries, RIL,
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