Reliance Industries’ subsidiary company -- Reliance Retail has acquired Telangana and Andhra Pradesh-based footwear and apparel retailer V Retail, which operates a retail chain under the brand name 'Centro Style'. The acquisition was completed during the last quarter (Q3 FY23). However, the company did not disclose the financial details of the deal.
Started in April 2009, as a distribution house, V-Retail is now one of the largest retail, distribution and franchising companies in South India. V Retail operates 32 Centro stores in the markets of Andhra Pradesh, Telangana and Karnataka.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
