Reliance Retail to set up own Stores in Future's locations
India’s one of the biggest business groups Reliance Group of Industries took over Future’s Group stores last month. Reliance Retail is all set to open its retail store brand by the name, Smart Bazar. These stores are likely to open at the locations where Big Bazaar was being operated by the Future group. Reliance Retail, yesterday terminated the sub leases of 950 stores of Future Retail that it had previously taken. Future Group has also confirmed that they have received notices for the termination of 835 retail stores and 112 lifestyle stores. Reliance Retail's new Venture Smart Bazar will focus majorly on the apparels and general merchandise. They will be noticeably different from their current Smart Supermarkets and will more like Big Bazar. Larger stores like Central of the future group have assets as large as 60,000 square feet. The executives of Reliance also informed that they are also planning to launch some of its 7 eleven and Reliance Fresh.