Reliance Retail to rebrand brand factory stores as fashion factory
Reliance Retail is going to rebrand the stores located in the premises of Future Group’s discounted fashion format Brand Factory into a new brand Fashion Factory, marking its entry into the discounted fashion segment and completing the relaunch of the large store premises it had taken over from the debt-ridden Future Group earlier this year.
The country’s largest and most profitable retailer is in the process of converting nearly 90 Brand Factory stores into Fashion Factory outlets that will offer discounts on both leading and its in-house fashion brands throughout the year.
The size of Brand Factory stores used to be around 15,000 square feet though there were a few big ones in prime locations up to 75,000 sq ft. Fashion Factory will sell brands like Pepe Jeans, Killer, Spykar, Lee Cooper, and Puma as well as Reliance’s own brands like DNMX and Performax.
It also recently started the process to rebrand the large format Central store locations of Future Group into a new brand Centro, which will be a fashion and lifestyle departmental store format. The Big Bazaar hypermarket locations are rebranded as Smart Bazaar.
An email sent to Reliance Retail remained unanswered until Friday press time.
The lease of over 950 properties, where the stores of several Future Group outlets like Brand Factory, Central, Big Bazaar and Easy Day used to operate, were transferred from Future Group to Reliance Retail in early 2021 by the landlords after Future Group was unable to pay the rent. These locations were then sub-leased to Future Group by Reliance so that Future Group could continue to operate its stores.
However, in February this year, Reliance started issuing notices for the termination of sub-leases to Future Group for non-payment of rent and shut down the stores. Reliance has returned all inventory and fixtures to Future Group, except those which it had procured to help the cash-starved Future Group to keep its outlets operational then.
Since then, it is progressively reopening its own stores in these locations on brands like Smart Bazaar, Centro and now Fashion Factory. Reliance is yet to decide on the hundreds of smaller grocery store locations of Future Group like Easy Day.
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