Closed Reliance Delight stores to be converted into outlets catering to other formats
Reliance Retail is mulling a plan to convert its recently-closed Reliance Delight stores into stores catering to some other formats, a senior executive aware of the company's plans said.
Mukesh Ambani-led Reliance has just closed as many as 100 Delight stores across the country, as some investors as well as customers were offended with the stores for selling non-vegetarian products.
Reports suggest that many of the company's staunch investors disliked the non-vegetarian business on religious/ethical grounds. Companies dealing in non-vegetarian products are considered 'haram,' which is why staunch Hindu, Jain, and Buddhist investors as well as Shariah-complaint funds do not invest in them.
The company is reportedly now planning to convert the closed Delight stores into outlets that will cater to some other formats. The aforementioned executive from company said they were now evaluating all options available to them.
Speaking on the topic, the executive said, "They have the properties and they will meaningfully use it and accommodate other formats. The Delight stores are around 200 sq ft each and they are evaluating all options."
The company operates as many as 1,500 stores across five formats, viz. value, consumer durables, jewellery, fashion & lifestyle, and brands.