Footwear specialist Clarks has reportedly terminated its joint venture contract with India’s Reliance Retail, leading to the potential closure of all its stores in the region. Sources familiar with the matter have indicated that disagreements over certain partnership terms prompted the decision.
According to reports, Clarks will be shutting down all its stores in India as part of an apparent 'exit strategy' from the market. Mall owners have confirmed the closures, with some stores already closed or in the process of closing.
