Reliance Smart Bazaar, formerly known as Big Bazaar, is an Indian

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...

chain of

hypermarket A hypermarket or superstore is a big-box store combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full grocery lines and general merchandise. In ...

discount department store Discount stores offer a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient distribution to keep down costs. Types (Unit ...

s, and

grocery store A grocery store ( AE), grocery shop or grocer's shop ( BE) or simply grocery is a retail store that primarily retails a general range of food products, which may be fresh or packaged. In everyday US usage, however, "grocery store" is a synon ...

s. The retail chain was founded by Kishore Biyani under his parent organisation Future Group, which is known for having a significant prominence in Indian retail and fashion sectors. Big Bazaar is also the parent chain of Food Bazaar, Fashion at Big Bazaar (abbreviated as ''fbb'') and eZone where at locations it houses all under one roof, while it is sister chain of retail outlets like Brand Factory, Home Town, Central, eZone, etc. Founded in 2001, Big Bazaar is one of the oldest and largest hypermarket chains of India, housing about 300+ stores in over 120 cities and towns across the country. In February 2022,

Reliance Industries Reliance Industries Limited is an Indian multinational conglomerate headquartered in Mumbai. Its businesses include energy, petrochemicals, natural gas, retail, entertainment, telecommunications, mass media, and textiles. Reliance is the ...

took control of over 200 Future group stores and rebranded Big Bazaar as Reliance's Smart Bazaar Stores and rest of them were shut down.

History

Big Bazaar was founded in 2001 by Kishore Biyani, the founder and CEO of the parent company, the Future Group.

Acquisition

Big Bazaar Converting Smart Bazaar - Avani Riverside Mall - Howrah 20220323 180332

In 2020, Big Bazaar was acquired by

Reliance Retail Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement ...

, the retail division of the

, as part of a ₹24,713 crore ($3.36 billion) sale transaction of Future Group. However, the deal was called off on 23 April 2022 after FRL's creditors voted against going forward with it. Reliance Retail launched its new retail format by the name of Reliance Smart Bazaar, that cater to consumer needs. It offers online and offline services to the customer. Online shopping services can be availed using the JioMart platform.

Controversy

According to

The New Indian Express ''The New Indian Express'' is an Indian English-language broadsheet daily newspaper published by the Chennai-based Express Publications. It was founded in 1932 as ''The Indian Express'', under the ownership of Chennai-based P. Varadarajulu Naidu ...

report in September 2022, the

Bhubaneswar Municipal Corporation Bhubaneswar Municipal Corporation or BMC is the local urban governing body of the city of Bhubaneswar in the Indian state of Odisha. The municipal corporation consists of democratically elected members, is headed by a mayor and administers th ...

(BMC) fined Reliance Smart Bazaar Rs 1.5 lakh for allegedly putting up posters and hoardings without permission. The fine included Rs 1 lakh for kiosk advertisements and Rs 50,000 for hoardings. The advertisements, placed between September 2 and 8, violated the BMC Advertisement Regulations 2006 and were deemed a public nuisance.

References

External links

*{{official, https://futureretail.in/ Companies based in Mumbai Retail companies of India Supermarkets of India Retail companies established in 2001 Indian companies established in 2001 2001 establishments in Maharashtra Future Group Reliance Industries

History

Acquisition

Controversy

See also

References

External links