Mukesh Ambani Owned Reliance Retail Limited Scores A Ton With Reliance Jewels

The competition in the branded jewelry segment in India is about to intensify with the Mukesh Ambani owned Reliance Retail Limited (RRL) recently declaring its mega foray into Jewelry Retail by opening 100 exclusive Reliance Jewels outlets across the country in coming three years.
Mukesh Ambani owned Reliance Retail Limited ventured into jems and jewelry trade because of the never ending demand of jewels in India. The first store was launched in Bangalore in early 2009. Sprawled over three storeys and covering an area of 6,000 sq ft, the Reliance Jewels store at Bangalore proffered as many as 10,000 designs of elegantly created jewelry pieces. It is learnt that the jewelry collection here, has been assimilated from different parts of India. The availability of a wide range of gold and diamond jewelry makes Reliance Jewels a one-stop shopping venue for buyers of fine jewelry.
By the end of December 2009, Reliance Group increased the number of store launches for Reliance Jewels to 10. The multi-format retailer now aims to expand by opening jewelry stores in Ahmedabad, Bangalore, Dhanbad, Gurgaon, Hyderabad, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Ludhiana, Mumbai, New Delhi and Vizag adhering to core Reliance Jewels strategy of expansion through saturation.
Enthused by good sales in the past few months, Mukesh Ambani-led Reliance Retail Lifestyle is now planning to increase the number of Reliance Jewels outlets to 100 by 2013. We are upbeat about our same store sales growth. The past eight months have been very good for us… with 22 per cent growth. And I think this is the best time to expand as the rentals have gone down to some extent. In the next 3 years, we will be scaling the Reliance Jewel stores to 100, Reliance Retail Lifestyles CEO Bijou Kurien told PTI.
The company has plans to add 14 more by this fiscal-end to its existing 10 outlets of Reliance Jewels, which sells gold and diamond jewellery under private label RJ. We have announced to open 10 more Reliance Jewels stores and six Time Out store by the end March with a total investment of Rs. 150 crore, Kurien said. The new stores will come up in New Delhi, Ahmedabad, Andhra Pradesh and Mumbai, where it already has its lifestyle outlets. Besides it will also open a few shops in Kochi and Bangalore.
All its outlets of Reliance Jewels are large format stores ranging from 2,500 sq ft to 15,000 sq ft. As per the plan, the gold jewelry at all Reliance Jewels stores will consist of Kolkata Filigree, Rajkot minakari jewelry, Kundan from Jaipur, Temple jewelry from Kerala, Jadau from Amritsar and so on. Even in Diamond jewelry, Reliance will offer only the best. One will find the widest variety of Diamond jewelry designs here ranging from simple daily wear to party wear items to celebrate every special occasion in a persons life.

Negligence To Blame For International Construction Accident

In a continued showing of gross negligence in international construction, official reports from India this week announced that cost cutting measures circumvented many construction standards and safety protocols in order to cut construction costs. The same construction site under the supervision of the Delhi Metro Rail Corporation (DMRC) that experienced the worst accident in its history on July 12 suffered another setback to rescue operations when the rescue cranes collapsed, injuring 5 workers.

The official report, announced by Saugata Roy, minister of state in India’s Ministry of Urban Development, revealed that in order to save money on the project, the construction company contracted to perform the work was also given the task of designing parts of the bridge. This presents not only a conflict of skills, but a conflict of interest; the construction company has it in their best interest to save as much money as possible on materials and construction. The construction company in question, Gammon India Ltd, maintains that costs were not cut and that all safety standards were followed to the letter. The question of the legitimacy of this claim is up for debate, however. During the first phase of construction for the Delhi Metro, the design was performed by Delhi Metro Rail Corporation and its consultants while construction was carried out by separate contractors. However, during the second phase the duties of construction and design were combined, creating a possibility for a serious construction site accident.

The initial construction site accident occurred on July 12, when a section of railbed bridge collapsed, killing 6 total workers and injuring approximately 15. This accident followed the October 2008 construction accident in which a crane placing concrete slabs collapsed killing two and injuring 30 others. Opinions differ on the true cause of these construction accidents; negligence and cost cutting measures have been officially announced, though there are some who say that these factors are part of a larger problem of rushing the work in the first place. In anticipation of the the 2010 Commonwealth Games, scheduled to be held in New Delhi beginning October 3rd, 2010, the government is pushing the metro project with haste. This will be the largest multi-sport event conducted to date in Delhi and India, and the municipal government wants to present a modern transit system to the world’s visitors as they arrive and travel throughout the city.

However, despite all the pressure and money funneled into the project, progress is not being made as fast as the city would like. With setbacks such as these fatal construction accidents and the looming possibility of several construction accident lawsuits, completion of construction is on a tight time line. It is almost certain that there will be legal action against Gammon India Ltd., as family members have likely contacted a construction accident lawyer. Indeed, Gammon India Ltd. been involved in legal proceedings in the past, though it is unclear what the future holds for the company.