Reliance Retail ties up with Dutch firm for optical chain

Reliance Retail, owned by Mukesh Ambani's Reliance Industries, has signed a joint venture pact with Pearle Europe of the Netherlands to set up a chain of optical stores at its hypermarts, super stores and wellness stores.

The joint venture would seek regulatory approvals and formalise the plans within the next few months, a spokesperson for Reliance Retail said.

The JV will sell private label frames, lenses, sunglasses, contact lenses and solutions based on contemporary optometric technology backed by trained optometrists and support staff, said the company.

Pearle Europe is a subsidiary of HAL Investments, a Netherlands-based investment major in Europe. It operates 2,200 optical retail stores in 21 countries in Europe and West Asia. HAL Investments also owns many optical retail chains in China, Russia, Turkey and Brazil.

"This joint venture underscores our commitment to bring world class partnerships to India, to service the changing needs of the customer, blending the capabilities of Pearle Europe, a leader in the optical retail industry, and Reliance Retail," said Bijou Kurien, president and chief executive (lifestyle division), Reliance Retail.