M&A

M&A

Reliance acquires footwear retail brand Centro Style

Economic Times  

Publicly listed RIL Group's Reliance Retail arm has acquired Hyderabad-headquartered footwear and apparel retailer V - Retail Pvt Ltd, which operates a retail chain under the brand name Centro Style. Centro Style operates 32 stores in Andhra Pradesh, Telangana and Karnataka. Of these 15 stores are located in Hyderabad. Started in April 2009, Centro Style is promoted by the distributors of several National and International brands operating in footwear and garments in Andhra and Telangana. The firm plans to set up 9 more stores in the next six months in southern and central India, focusing on tier-2 and 3 cities. In the recent past, Reliance Retail has acquired Sosyo, Lotus Chocolate and Campa Cola. Last year it acquired German firm Metro AG's wholesale operations in India.