00:00Mukesh Ambani, the owner of the country's richest industrialist and Reliance Industries, has taken a very big decision.
00:10His daughter, Isha Ambani, is in charge of Reliance's retail chain, Reliance Retail.
00:16Under Isha Ambani's leadership, the company has decided to temporarily close its fashion and lifestyle department store, Reliance Centro.
00:26The special thing is that the company had decided to open Centro stores in India two years ago.
00:32Now these stores are being temporarily closed.
00:36We will tell you about the reason behind this in this video.
00:41Reliance Retail, a company of Reliance Industries, is closing Centro stores in its department chain.
00:48News is coming that the company will temporarily close 80 Centro stores across the country.
00:55According to reports, three stores have been closed so far and dozens of stores will be closed within a month.
01:02However, it has not yet been revealed how many Centro stores will be closed by the company and whether these stores will be reopened or not.
01:13It has also not been clear whether Reliance Retail will give way to existing local and global brands after reopening the store or not.
01:22Actually, Reliance Retail wants to promote its brands and labels.
01:26And Reliance Retail has decided to temporarily close Centro outlets under the remodeling process and focus on its own brand.
01:36Display, storage and sales of goods will be stopped on these outlets.
01:41Let me tell you that in 2022, the Reliance Retail division changed the future group's Centro to Centro.
01:49It is also believed that Reliance Retail will use the shop and shop model to promote its brands and labels.
01:58Reliance has partnered with many global brands, including international brands such as Gap and Superdry, including more than 80 foreign brands.
02:09In addition to all this, the company also has its own brands such as Azote and Yusta.
02:13The company has decided to focus on these brands.
02:17More than 450 local and international brands are present at Reliance Retail's Centro stores.
02:24So, what will be the impact of Reliance's decision to close its Centro stores on these local and international global brands?
02:33And what is your opinion on this?
02:35Tell us in your opinion in the comment box.
02:37And keep watching Good Returns for such updates.
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