Ambani led Reliance Industries is going strong on its new business, Reliance Retail. Reliable sources confirm that the private sector mammoth has called for a Rs 300 crore pitch for Reliance Retail.
According to media reports, Reliance Retail will have some 30 verticals, which will function as independent centres, at an investment of more than $6 billion, by 2010-11.
The leading agencies of the country are learnt to have been invited for the pitch. The agencies will be required to present a number of creatives - both a singular creative which will act as a platform for all the umbrella verticals and vertical specific advertising. The target audience for the retail venture is learnt to be not limited to just the middle class, as it will also have high-end multinational brands on its shelves.
In August, agencyfaqs! had reported the opening of RelianceMart and said at the time that the Ahmedabad campaign alone (comprising largely press, outdoor and radio ads) had seen an expenditure of Rs 25-30 crore. Around 40-50 per cent of the ad spend would be taken up by press, 25 per cent would be spent on outdoor, another five per cent on radio and the rest on television
Currently, the company has about eight verticals, including the hypermart, RelianceMart; fresh vegetables and fruit, Reliance Fresh; lifestyle and jewellery, Reliance Jewellery; and consumer electronics. It will shortly open its books and DVD/VCD stores in the national capital region. The fresh vegetables and fruit vertical has been hived off under Ranger Farm, though the company continues to own the Reliance Fresh brand.