|
New Delhi : Vision Express, the joint venture between Reliance Retail and Dutch optical retailer Pearle Europe, on Feb 19 said it is embarking on an expansion spree with plans to open 60-70 outlets every year and tap large format stores and malls.
Interestingly, in a significant departure from the earlier strategy of opening outlets either in a standalone format or in Reliance Retail's stores, the JV in which the Mukesh Ambani- promoted retailer has 50 per cent stake, will move into rival Aditya Birla Group's 'More' hypermart by opening an outlet at Baroda on Feb 20.
"Our plan is to open 60-70 outlets every year. For that, going forward, one of the areas we are looking to tap is the malls and large format stores," Vision Express Chief Executive Officer Guillame Brouwet told reporters.
He, however, refused to share the company's investment plans. Asked about the significance of the Baroda outlet at More's hypermarket, Brouwet said: "We will tap all avenues (irrespective of who is running the mall) provided they are positioned in the same price point as us."
|
