Reliance began stealth seizure of Future stores on Feb. 25. Much of Future management was in the dark about the takeover according to sources. Reliance wants to rebrand the stores and keep Future employees on as per sources. After the takeover of stores, Amazon and Future would commence talks.
Workers were offloading hundreds of vibrant blue grocery boxes affiliated to India's largest retailer Reliance at a huge Future Retail supermarket in Mumbai the other week.
Security pushed away potential shoppers, dissatisfied by the store's shut status, which still bears the branding of Future's largest label, Big Bazaar, but will most likely be relaunched as a Reliance outlet eventually.
Identical scenarios are now being repeated out across India as Mukesh Ambani's Reliance Industries, India's largest conglomerate and the country's wealthiest man, pushes ahead with a surprise de facto purchase of valued retail real estate that Amazon.com Inc has so far been anxious to assume par...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
