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The JV in which Reliance Retail has 50% stake will move into rival Aditya Birla Group's 'More' hypermart by opening an outlet in Baroda on Saturday
Vision Express, the joint venture (JV) between Reliance Retail and Dutch optical retailer Pearle Europe, on Friday said that it is embarking on an expansion spree with plans to open 60-70 outlets every year and tap large format stores and malls, reports PTI.
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% stake, will move into rival Aditya Birla Group's 'More' hypermart by opening an outlet in Baroda tomorrow.
"Our plan is to open 60-70 outlets every year. For that, going forward, some of the areas we are looking to tap are the malls and large format stores," Vision Express chief executive Guillame Brouwet told PTI.
He, however, refused to share the company's investment plans.
Asked about the significance of the Baroda outlet at More's hypermart, Mr 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."
Vision Express is Europe's largest optical chain and offers its expertise in several countries across the world.