Reliance Retail has cleared the air by stating that company has no plans to wrap up its jewellery retail business. Reliance Retail, an arm of Reliance Industries was recently in news as the speculations were building up that the company planning to close down its jewellery retail business.
Retaliating on the news of company shutting down many of its stores across the country, Reliance Retail stated that though it has closed 10 outlets, but recently, it has also added seven new stores in its armory. Earlier, when contacted by media, Reliance Retail spokesperson didn’t reveal anything but now, he stated that Reliance as a group is committed to the retail business and its valued stakeholders.
Terming as ‘incorrect and speculative’ reports of Reliance shutting down jewellery business, the spokesperson said the company has opened seven new stores in recent times. Speaking about the further expansion, he specified that soon company will be opening its four new stores across the country.