Reliance Retail shuts down Centro locations to focus on in-house brands

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The story "Reliance Retail shuts down Centro locations to focus on in-house brands" was covered 1 weeks ago by Business Standard, a news publisher based in India.

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Reliance Retail shuts down Centro locations to focus on in-house brands - Business Standard

Quick Summary:

The letter also instructed brands to remove their merchandise, promotional materials, and other items from the outlets, the report added.

Chief financial officer Dinesh Taluja emphasised that despite the macroeconomic challenges and the decline in apparel and footwear sales, the company remains focused on long-term growth through investments in technology and design capabilities.

This marks the first revenue drop for Reliance Retail, excluding pandemic-related store closures.