The country’s richest man, Mukesh Ambani, has again prepared to create turmoil in the market. His company, Reliance Retail, is the country’s largest clothing-selling company. It has more than 4000 stores across the country. Reliance Trends is currently the largest retail fashion chain. Now, the company will open about 500 new stores in smaller cities and towns like Tier 2 and 3. For this, the company will distribute franchises.
The Company Will Reach More and More People
Reliance Retail will open these new stores under ‘Fashion World by Trends’ to gain hold in small cities and towns. The company led by Mukesh Ambani will enter the store format for the first time. The company has also prepared the business model. By adopting the franchise model, Reliance Trends will be made accessible to more and more people. The company will have to compete directly with V Mart Retail.
Reliance Trends Will Distribute Franchise
The company knows that it is not easy to open its store everywhere. In such a situation, franchises will be distributed where the company does not have stores. The company has recently opened ‘Fashion World by Trends’ stores in Siliguri, Dhule and Aurangabad. The company believes that the standard of living of the people of small and medium-scale cities is increasing rapidly. People here also want branded clothes. This is the right time to reach out to these people quickly in such a situation with your brand.
The Company Has Opened 2600 Trends Stores
At present, Reliance has about 2,600 Trend stores in small cities. However, the ‘Fashion World by Trends’ store will ultimately differ from these. Such stores can be opened only in 5000 square feet area. Trends in stores are pretty significant.
According to the plan, the company will open 20 such stores this month. More than 100 stores will open in the year 2024. All these will be in those cities where Trends does not have stores yet. If the situation improves, more stores can be opened in the same city.
