Reliance Retail is on an expansion spree. In the last three months, it has acquired several brands such as Sosyo, Lotus Chocolate, and Campa Cola. The latest acquisition is Telangana and Andhra Pradesh-based footwear and apparel retailer V Retail Pvt Ltd. The brand operates a retail chain under the brand name ‘Centro Style’. Across Andhra Pradesh, Telangana, and Karnataka, V Retail operates 32 Centro stores. The financial details of the deal are not revealed. Industry resources say that the acquisition was completed during the last quarter.
Started in April 2009 as a distribution house, V-Retail is now one of the largest retail, distribution, and franchising companies in South India. It is promoted by the distributors of several National and International brands operating in footwear and garments in Andhra Pradesh and Telangana. In total, it has 32 stores. Of them, about 15 Centro stores are in Hyderabad. There is a plan to set up 9 more stores in the next six months in the southern and central regions of India. The focus would be tier-2 and 3 cities.
Reliance launched its consumer-packaged goods brand Independence in December. The brand would offer a range of products in several categories, including staples, processed foods, and other daily essentials. Besides, Reliance announced the acquisition of German firm Metro AG’s wholesale operations in India for Rs 2,850.
