Balenciaga strikes deal with Reliance for India entry
Kering’s seemingly unstoppable Balenciaga brand has a giant new market to target. On August 4, Reliance Brands Limited (RBL) announced it has signed a strategic deal with the “hottest global luxury brand” to bring it to the Indian market.
With this long-term franchise agreement, RBL will be Balenciaga’s sole India partner. It will be RBL’s second link to Kering with the firm also handling Bottega Veneta.
“Few brands have actually embraced the opportunity for creative reinterpretation and reinvention quite like Balenciaga,” said RBL’s MD said Darshan Mehta.
“Their avant-garde and ingenious creations, bold use of the logo, and a consequent cult in the fashion industry [have] already created a strong footing throughout the world. It’s the most opportune time to introduce the brand to the country as the Indian luxury customer has matured and [is] using fashion as a form of creative expression of their individuality.”
RBL is a subsidiary of Reliance Retail Ventures Ltd and began operations in 2007 with a mandate to “launch and build global brands in luxury to premium segments across fashion and lifestyle”. In the past five years, it has also invested in building and operating homegrown Indian designer brands.
Its current line-up of brand partnerships includes Armani, Bally, Burberry, Clarks, Coach, Diesel, G-Star Raw, Jimmy Choo, Michael Kors, Mothercare, Superdry, Scotch & Soda, Tiffany and Tod’s, to name only a few.
It operates 2,084 doors split into 821 stores and 1,263 shop-in-shops in India.
The company also owns British toy retailer Hamleys and has equity investments in Indian brands Manish Malhotra and Raghavendra Rathore.
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