Brief by Shorts91 Newsdesk / 11:09am on 14 Nov 2024,Thursday Business
Reliance Retail, led by Mukesh and Isha Ambani, is temporarily closing its Centro department stores as part of a major restructuring plan aimed at promoting in-house brands and adopting a shop-in-shop model. This revamp follows the rebranding of Future Group’s Central stores as Centro in 2022. Three stores have already closed, with 20 more expected by month-end. Brands have been asked to remove inventory for the planned renovations. The redesigned stores will focus on Reliance’s labels, such as Azorte and Yousta, and international brands like Gap and Superdry, repositioning Reliance in the evolving retail market.
