Mukesh Ambani-led Reliance Retail has devised a new business model, under which it will open small outlets at the premises of large corporates.
The company, which is a subsidiary of Reliance Industries, will soon approach big corporate houses with this proposal to implement the novel business plan.
Elaborating on the new business model, the official said that RRL envisages an employee-friendly retail format. It will provide price discounts to employees in these stores.
In the first phase, RRL plans to open Reliance TimeOut Stores, engaged in books and music retailing business, beginning in Mumbai and Delhi.
RRL plans to open a total of 45 Reliance TimeOut across the country over the next three to five years in four states – mainly in western and southern India.
The company wants to tap the country’s Rs3,500-crore book retailing industry, of which only 40% is organised.