Reliance shuts G-Star RAW and Replay fashion stores amid sluggish demand

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Reliance shuts G-Star RAW and Replay fashion stores amid sluggish demand - Business Standard

Quick Summary:

Most G-Star RAW stores in India have already closed down, while the brand is still available through online platforms.

Reliance Brands Ltd, which manages over 50 international fashion brands in its portfolio, has encountered significant challenges.

Though Reliance Brands’ revenues witnessed a 13 per cent year-on-year growth in FY24 to Rs 2,303 crore, its losses ballooned by 55 per cent, increasing to Rs 288.4 crore compared to Rs 185.16 crore the previous year, according to the company’s annual report released on August 2024.