24 January 2023, Mumbai
Reliance Retail has acquired V Retail which operates a retail chain under the brand name Centro Style.
Started in April 2009 as a distribution house VRetail is now one of the largest retail, distribution and franchising companies in South India.
V Retail, a footwear and apparel retailer, operates 32 Centro stores in Andhra Pradesh, Telangana and Karnataka. It is promoted by the distributors of several national and international brands operating in footwear and garments in Andhra Pradesh and Telangana.
About 15 Centro stores are in Hyderabad and the plan is to set up nine more stores in the next six months in the southern and central region of India with a focus on Tier II and III cities.
Reliance Retail is on an expansion spree and in the last few months has acquired several brands, including Sosyo, Lotus Chocolate and Campa Cola as part of its FMCG ambition. Earlier in December 2022, it launched its consumer-packaged goods brand Independence. Under this brand, the company will offer a range of products in several categories, including staples, processed foods and other daily essentials.
In 2022 Reliance Retail acquired German firm Metro’s wholesale operations in India to strengthen its position in India's retail sector.