Reliance Retail Shuts Down Centro Stores for Revamp

Reliance Retail has decided to temporarily close several Centro stores. This shift is part of a broader plan to revamp the department chain, focusing on in-house brands and a shop-in-shop model. The company rebranded Future Group’s Central stores to Centro in 2022, marking the start of its strategic changes.

Store Closures and Renovation Plans

As part of this revamp, three Centro stores have already closed, and 20 more will shut by the end of this month. Brand partners must retrieve their goods to allow renovations.

Focus on In-House Brands

Reliance Retail plans to emphasize its own brands, like Azorte and Yousta, along with global labels such as Gap and Superdry. This move shows Reliance’s intent to enhance brand exclusivity and control over inventory.

Competitive Market Outlook

Centro, which offers products from over 450 brands, competes with Shoppers Stop and other retail giants. Despite strong post-pandemic growth, Centro’s sales grew only 4% last year. The revamp aims to boost Reliance’s market position in India’s competitive retail industry.

What’s Next for Reliance Retail?

Reliance’s focus on in-house brands and exclusive products aims to attract a broader customer base. The revamp positions the company to maintain a strong hold on the evolving retail market.

Stay updated with the latest retail industry trends!