Reliance Industries has begun preparing to change the name of Future Group’s flagship brand Big Bazaar. Mukesh Ambani‘s company had previously taken over the responsibility of managing the retail stores of Kishore Biyani’s company. The result was that most of the Big Bazaar stores were closed for a few days.
Big Bazaar New Name
According to reports, the Mukesh Ambani-led company has decided to open a new store at the location of Big Bazaar. These stores will be called Smart Bazaar. Reliance Retail is the retail arm of Ambani-led Reliance Industries. Retail stores such as Reliance Trends, Reliance Fresh, and Reliance Digital are already operated by the company.
Smart Bazaar will be open at these 950 locations
950 stores will be opened by Reliance Retail. The company now controls all of these locations from Future Group. Media reports suggest that the company will soon open smart shops named ‘Smart Bazaar’ at about 100 of these locations. But Reliance Retail and Future Group have not said anything.
Get to know these things about the takeover of Big Bazaar
It has been more than a year since the Rs 24,713 crore deal between Reliance and the Future Group was signed. Despite this, Amazon lawsuits have prevented the deal from closing. Last week, Reliance began taking over the store of Future Group’s Big Bazaar, aggressively showing its presence.
Initially, Reliance took over the lease of Big Bazaar stores but allowed the future to continue operating. The stores have now been taken over by Reliance because Future Group is unable to pay rent.
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