Reliance Brands to open 30 Diesel stores in next five-years
Reliance Brands, a wholly-owned subsidiary of Mukesh Ambani-led Reliance Retail, plans to open 30 Diesel stores in the next 5-years, a top company official said.business Updated: Apr 28, 2010 20:32 IST
Reliance Brands, a wholly-owned subsidiary of Mukesh Ambani-led Reliance Retail, plans to open 30 Diesel stores in the next 5-years, a top company official said.
"If everything goes well, then we will open 30 stand-alone Diesel stores in the next five-years. This year, we are planning to have seven stores," Reliance Brand's CEO, Darshan Mehta, told reporters during the launch of its second store at Juhu in the city here today.
Reliance Brands had, in 2008, entered into a joint venture with Italian lifestyle brand, Diesel Spa. It opened its first store this year.
Currently, Diesel has two stores in Mumbai and going ahead plans to open five more this year. The stores will be coming up in Bangalore, Delhi and Hyderabad over the next few months, Mehta said.
He, however, refused to divulge any investment details.
"Presently, our focus is on the brand...Expand it with the growth of the country. We are looking at a long-term partnership with Diesel," he added.
The stores are being designed by the Diesel Creative Team and no two stores are similar, Mehta said, adding that every store will have its own distinctive identity and different merchandise.