-Opens Mumbai's first Reliance TimeOut store in Bandra-
Mumbai. December 23, 2009: Reliance TimeOut, the one-stop destination for books, music and stationery enthusiasts, a specialty format of Reliance Retail, on the occasion of its second anniversary celebrations forays into Mumbai with its first store at Hill Road, Bandra today. The 10,000sq ft store is located next to Elco Market at Bandra in the Lower Ground Floor of the Reliance Trends building. After successful launches in Bangalore, Gurgaon, Kochi and Ahmedabad, this is Reliance TimeOut's seventh store in the country.
This store in Bandra is the first of multiple stores planned across Mumbai, Thane and Navi Mumbai. The next couple of months will see stores being opened in Santacruz, Thane, Vashi, Kandivali and Borivali. This is part of an overall aggressive expansion strategy by the format which will also be seen entering Pune, Nagpur, Hyderabad, Mysore and Mangalore. The next year will see wide-spread expansion in terms of cities and number of stores in existing cities with a focus on Western and Southern India.
On the occasion of the launch, Mr. Deepinder Kapany, Business Head, Reliance TimeOut said, "We are proud to complete two successful years of Reliance TimeOut in the country. We have received overwhelming response from customers for our innovative and unique concept and the exciting range of interactive activities that enables customers to meet and interact with their favourite authors. With the thought of extending the unique Reliance TimeOut experience further, on our second anniversary we bring the Reliance TimeOut experience to customers in Mumbai. We are sure that books and music enthusiasts in the city will enjoy the experience that we have especially designed for them."
Spread over 10,000 sq. ft. Reliance TimeOut extends to its customers in Mumbai a host of books, music and stationery. It offers a huge range of choice with 25,000 Books of every genre including Indian Languages and Academic books, over 15,000 movie and music titles, 4,000 Stationery Items, and a wide variety Gifts and Toys. The store will periodically offer book enthusiasts with the opportunity of interacting with their favourite authors through book reading sessions designed specially for them. The store will also see a lot of performances from up-coming bands and will host tons of activities for children. These products combined together with services such as the Kid's Play Area, Sound Domes, Reading Bar offered in a truly world class environment and with friendly, knowledgeable and energetic staff will surely make Reliance TimeOut a place to be.
The store was launched with an excellent band called SPOOK performing and also a visit from the character SCRAT from the movie ICE AGE 3. The launch phase will also see more musical performances and also many activities and events for kids. The store is also offering a Discount Voucher of Rs. 250/- for every purchase of Rs. 500 as a launch offer.
"Reliance TimeOut launched its stores in Bangalore, Gurgaon, Kochi and Ahmedabad and has received an overwhelming response from books, music and stationery enthusiasts in all the cities. Numerous interactive events with well known Indian and International authors, musicians, dramatists and other celebrities are organized at Reliance TimeOut for books and music lovers. The stores have also become a destination for children due to the numerous events held especially for them." Added Mr. Kapany.
Reliance TimeOut's initiative called 'Book Club' launched on 2nd August 2008 is fast transforming Reliance TimeOut into a literary hub, with varied activities conducted at least twice a month at the store. The Reliance TimeOut Book Club provides its customers a platform to engage in discussions with their favorite authors and also get entertained through various book reading and enactment sessions. For people interested in books, plays, theatre, poetry and writing, membership of the Reliance TimeOut Book Club is an absolute must. A member gets invitations for all the events at Reliance TimeOut and will also enjoy a whopping 10% off on all books purchased at the store. Unisun Publications which has been organising the Unisun Creative Writing Competitions over the years, now organises the 'Annual Writing Contest' for budding writers in association with Reliance TimeOut every year, which gives budding authors the opportunity to win exciting cash prizes as well as a chance to get published.
About Reliance Retail Limited
Reliance Retail Limited (RRL), a subsidiary of Reliance Industries Limited opened its first retail store in November 2006 and today operates more than 1,000 stores in over 86 cities, spanning 14 states with over 4.2 million sq ft of trading space. RRL is a multi-format retailer that operates Reliance Fresh - a neighborhood store concept, Reliance Digital - a consumer durables and information technology concept, Reliance Mart - a hyper market concept, Reliance Trends - an apparel specialty concept, Reliance Wellness - a health, wellness & beauty concept , iStore by Reliance Digital- an Apple specialty store concept, Reliance Footprint -a footwear concept, Reliance Jewels - a jewellery concept, Reliance Time-Out- a books, music & entertainment concept, Reliance Super- a Minimart concept, Reliance Living Homeware - a household utilities specialty store concept, Reliance Living Furnishings-a specialty store concept for home furnishings, Reliance Living Furniture-a home office furniture specialty concept, Reliance Home Kitchen- a kitchen's solution specialty store concept, Reliance AutoZone - an automotive specialty concept and Vision Express-an optical specialty store concept.
Reliance Industries Limited
Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with a turnover of Rs. 1,46,328 crore (US$ 28.85 billion), cash profit of Rs 22,365 crore (US$ 4.41 billion), net profit (excluding exceptional income) of Rs. 15,637 crore (US$ 3.02 billion) and net worth of Rs 126,373 crore (US$ 24.92 billion) as of March 31, 2009.
RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 117th amongst the world's Top 200 companies in terms of profits. RIL ranks 75th in the Financial Times FT Global 500 list of the world's largest companies. RIL is rated as the 15th 'Most Innovative Company' in the World in a survey conducted by the US financial publication-Business Week in collaboration with the Boston Consulting Group.