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Mukesh Ambani-led Reliance Retail Ltd plans to open a total of 45 stores of its books and music retailing business -- Reliance TimeOut -- across India over the next three to five years.The multi-format retailer, which operates seven stores of TimeOut, said it wants to tap India's Rs 3,500-crore book retailing industry, of which only 40 per cent is organised.
"In the next 3-5 years (or December 2014), we will have a total of 45 TimeOut outlets across four states - mainly in western and southern India. Our strategy is to first saturate a town, then a state followed by the entire region," Reliance Retail, Business Head, Reliance TimeOut, Deepinder Kapany told PTI.
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