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Centro Stores : Just two years ago, Mukesh Ambani launched Centro Stores, but now Reliance Retail is going to close its 80 stores across the country. In September 2022, the retail segment of Reliance Industries rebranded Future Group's central stores as Centro. But now the company is going to close many of these outlets. However, they are being closed temporarily and not forever. But what is the reason behind this, know ahead.
Why are stores closing?
Reliance Retail is temporarily shutting down Centro department chain stores across the country. According to a report by TV9 Bharatvarsh, Reliance has already shut three stores. It will shut down two dozen more stores by the end of November.
It is worth noting that the company is recalling its inventory and fixtures in view of renovation and format restructuring. The company plans to re-establish its brand and label in the new forgiveness complete plan of Reliance.
According to an ET report, Reliance Retail has decided to shut down operations at all its Centro outlets across the country as part of the remodeling process. Display, storage and sale of goods will be temporarily halted at these stores.
However, it is not clear if Reliance Retail will re-in, integrate existing local and global brands when the store reopens. The plan is to use the space for a "shop-in-shop" model, focusing on its own brands.
Reliance has partnered with 80 international brands, including big names like GAP and Superdry. The company also has its own brands. These include Azorte and Eusta.
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