Reliance Retail Ltd led by Mukesh Ambani has plans to open a total of 45 stores of its books and music retailing business – Reliance TimeOut – across India over the next 3-5 years.

The multi-format retailer, which operates seven stores of TimeOut, said it wants to tap India�s Rs3,500 crore book retailing industry.

As per the senior company official, “In the next 3-5 years the comapny will have a total of 45 TimeOut outlets across four states-mainly in western and southern India. The next couple of months will see five stores being opened in Mumbai.”

Reliance Retail will expand through the cost-effective model of revenue-sharing format with property owners.