Sorry, but I don't buy that. Every modern Disney princess ride has been a retelling, and this is the property they chose to create its own narrative for? I understand a "sequel" means they can't have Facilier and I'm not arguing that, it wouldn't make sense; but when the first film had all the makings of a great retelling and they opted for moving away from it - that paints a different picture.
UPDATE: Just wanted to mention that Frozen Ever After is, in essence, a retelling - though presented differently; but that's the only example I can think of that's not an outright retelling.