Billionaire businessman Mukesh Ambani and his company Reliance Industries have started taking over the Big Bazaar since last week. Now the company is also preparing to change the name of this brand of Future Group. Reliance Retail has come up with a new plan for this. The company plans to launch a new retail store brand 'Smart Bazaar' at Future Group locations. These stores will focus more on life necessities and medium range garments as compared to Reliance Retail's smart supermarkets to enhance customer connectivity with the store.
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Big Bazaar to be renamed
Reliance Retail It is planning to open new retail stores everywhere where Big Bazaar used to be. The new store has been named Smart Bazaar. Reliance Retail is Mukesh Ambani's company in the retail sector of Reliance Industries. It already operates retail stores like Reliance Trends, Reliance Fresh, Reliance Digital.
Big Bazaar to be renamed
Reliance Retail It is planning to open new retail stores everywhere where Big Bazaar used to be. The new store has been named Smart Bazaar. Reliance Retail is Mukesh Ambani's company in the retail sector of Reliance Industries. It already operates retail stores like Reliance Trends, Reliance Fresh, Reliance Digital.
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Smart Bazaar to open in 950 places
Reliance Retail plans to open its own store in 950 places. Each of these locations has been taken over by Future Group. According to sources, the company will open stores in about 100 of these locations this month under the name Smart Bazaar. However, Reliance Retail and Future Group have not yet commented on the matter.
Store area to be expanded
According to sources, large stores like Future Group's Central are spread over 60,000 square feet. Its area will be increased to 1 lakh square feet. Reliance Group is now looking at creating a new format of smart market similar to Reliance Mall. However Smart Bazaar will be a mix of each format created as a department store.
Smart Bazaar to open in 950 places
Reliance Retail plans to open its own store in 950 places. Each of these locations has been taken over by Future Group. According to sources, the company will open stores in about 100 of these locations this month under the name Smart Bazaar. However, Reliance Retail and Future Group have not yet commented on the matter.
Store area to be expanded
According to sources, large stores like Future Group's Central are spread over 60,000 square feet. Its area will be increased to 1 lakh square feet. Reliance Group is now looking at creating a new format of smart market similar to Reliance Mall. However Smart Bazaar will be a mix of each format created as a department store.
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Reliance , which owes Rs 17,000 crore
, is handing over the assets to Future Group. These assets will now be given to banks for debt repayment of Rs 17,000 crore. This happened because Future Group filed for bankruptcy. Reliance has been paying for stocks of Big Bazaar, Easy Day, Heritage and FBB stores for over a year now. A total of 950 outlets are now closed and are currently owned by Reliance.
Reliance , which owes Rs 17,000 crore
, is handing over the assets to Future Group. These assets will now be given to banks for debt repayment of Rs 17,000 crore. This happened because Future Group filed for bankruptcy. Reliance has been paying for stocks of Big Bazaar, Easy Day, Heritage and FBB stores for over a year now. A total of 950 outlets are now closed and are currently owned by Reliance.
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Big Bazzar's
takeover was a deal between Future Group and Reliance Industries worth Rs 24,713 crore a year ago. But the deal did not go through because of Amazon's case. Since last week, Reliance has been aggressively taking over Future Group's Big Bazaar. Relives has previously leased the Big Bazaar store in its own name and allowed Future to operate. Now Reliance is taking control of the stores in their hands. Because Future is now unable to pay its rent.
Big Bazzar's
takeover was a deal between Future Group and Reliance Industries worth Rs 24,713 crore a year ago. But the deal did not go through because of Amazon's case. Since last week, Reliance has been aggressively taking over Future Group's Big Bazaar. Relives has previously leased the Big Bazaar store in its own name and allowed Future to operate. Now Reliance is taking control of the stores in their hands. Because Future is now unable to pay its rent.
