Mukesh Ambani's Future plan - a new brand on the anvil 'Smart Bazaar'

After getting use to smart phones and cars, now it's time to get ready for smart bazaars!

Mukesh Ambani owned Reliance Retail has finalised a new retail store brand, Smart Bazaar, for the locations where the Future Group's Big Bazaar outlets used to operate this month.

According to report by ET, smart bazaar will be focusing majorly on apparel and general merchandise. It will be different from the existing Reliance Retail's Smart supermarkets and will more be in line with the functioning of Big Bazaar so that consumers can feel connected.

Further, the retail unit of Reliance Industries is working on opening its own stores in around 950 properties it had sub-leased to the Future Group but took possession back citing non-payment of rent.

The move comes days after Future group on March 7 and 8 received termination notices for 947 stores, which it had sub-leased from Reliance entities.

In August 2020, Reliance Retail had agreed to take over the retail and logistics business of the Future group for Rs 24,713 crore.