Did we predict Reliance's Retail Strategy ?

Reliance Industries has stunned India's Retail Sector by announcing a gigantic investment of over Indian Rupees 25,000 Crores (roughly equivalent to USD $ 5.5 Billion) in their proposed Reliance Retail greenfield project in India.

This will also entail an investment of half a million people and have a physical presence in more than 1,500 geographic locations spread across India.

In Indian business newspapers, Mr. Mukesh Ambani , the Reliance Chairman has been quoted saying that "... Reliance Retail will partner with farmers, logistics operators, small shopkeepers and traders... "

In January 2006, in this weblog, I had written ....

How would the late Mr. Dhirubhai Ambani the original Reliance patriach founder have reacted to this golden opportunity to recreate a large retail industry from scratch ?

Perhaps, he would have approached the millions of India's unorganized retail traders, offered them equity shares in the new retail business, given them training in modern retail technologies and made them Reliance's working business partners on a commission basis in it's retail locations all over India.

Going by what Mr. Mukesh Ambani has said yesterday about their proposed partnership with small shopkeepers and traders, perhaps they are intending to do what we had suggested a few months ago.

Also, in India's business newspapers dated 7th July 2006, it has been reported that through ICICI Ventures which holds a stake in the South Indian Retail Chain Subhiksha, Reliance Retail is negotiating for a possible takeover.

Earlier, we had predicted the same in this article dated 21st April 2006.

Once again, did we predict the future ?

Of Reliance's Retail Strategy ?

As we have done in software earlier ?

Something to think about.

And perhaps pat our backs.

And go back to some serious work.