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Reliance Retail has acquired V Retail to expand its product offerings and strengthen its position in the footwear and apparel market.
V Retail is one of South India’s major retail, distribution, and franchising firms, delivering lifestyle products in a variety of areas and at a variety of pricing. It has 32 Centro stores across India, including in Andhra Pradesh, Telangana, and Karnataka.
Last year, Reliance Retail acquired outright Metro Cash & Carry India, a wholly owned subsidiary of German retail company Metro AG, for $344 million.
Reliance Retail also launched a new fashion and leisure department store concept called ‘Reliance Centro’, targeting mid-high income customers and democratizing fashion in India.
