Mukesh Ambani-led Reliance Retail has planned to focus on its value retail formats including Reliance Fresh, Hyper and Super and targets to double the store count by the end of the next financial year, reports Business Line.
Out of the total 920 stores of Reliance Retail spread across 20 formats in 80 cities as of now, Reliance Fresh operates around 645 stores across the country. Quoting a company source, the report further said that the retailer has closed about unviable 20 stores and may look at closing or moving another 20-30 such stores as it goes along.
The company has also been renegotiating rentals for its properties on an ongoing basis, added the report.
— IndiaRetailing Bureau