Reliance Living, a subsidiary arm of Reliance is all set to close down its existing stores located in Bengaluru, Delhi and Hyderabad as media reports have indicated. If sources are to be believed the company believes furniture category is no longer key focus area for the organisation.
It is worth noticing that Reliance had shut down its books and music arm ‘Reliance Time Out’ last year. The company used to run 40 stores under this category. The company has moved to its digital platform to run music and book category.
Specialty retail formats of the group such as Reliance Digital and Reliance Jewellery are helping boost profitability for the group.
However, it is the value formats of the company (Reliance Fresh, Super & Mart) are apparentlythe biggest growth drivers for Reliance Retail.