Reliance Fresh, the retail arm of Reliance Industries Ltd, which has borne the brunt of anti-organised retail protests, suffered another setback with its stores in Noida in the National Capital Territory forced to down shutters on Sunday evening.
This follows the earlier closure of the company?s stores in other parts of Uttar Pradesh.
Reliance Fresh stores in several parts of the country have come under attack, while its competitors have gone comparatively unscathed. According to industry sources, Reliance?s much hyped media campaign seems to have worked against it.
This has resulted in a major shift in the company?s strategy, and it has now decided to underplay its Rs 25,000-crore retail venture and make no further announcements that could further antagonise opponents.
The world?s largest retailer, Wal-Mart of the US, chastened by past experience of strong opposition in other countries, has maintained a very low profile in India.
The launch of Aditya Birla Retail?s store rollout in Pune in June was equally hush hush, realising the sensitivities attached to the matter.
Compared to other retail chains like the RPG group?s Spencer?s, which reaches the 300-store mark this month, including 12 hypermarkets, and Subhiksha, which has over 700 stores in the country, Reliance has only 320 Reliance Fresh stores, but has been at the receiving end of the protesters? ire.
Meanwhile, speaking in New York, commerce & industry minister Kamal Nath said that rather than FDI, it was the impact of big retail on the livelihood of smaller stores that was the main bone of contention.