Reliance Retail is temporarily closing several Centro department stores to revamp their strategy, focusing more on its own brands.
After taking over Future Group’s Central stores in 2022, the company has shut three Centro outlets and plans to close 20 more by the end of November. These closures are part of a shift to shop-in-shop models featuring brands like Azorte, Yousta, and international labels such as Gap and Superdry. Reliance aims to strengthen its market position, despite a 3.5% revenue drop in the latest earnings report.