Reliance Brands signs long term franchise agreement with Balenciaga
1 min read 04 Aug 2022, 07:26 PM ISTThis is the company’s second brand with the French luxury group Kering
PremiumReliance Brands Limited has inked a deal with luxury brand Balenciaga, to bring the brand to the Indian market. The two have signed a long-term franchise agreement for RBL to become its sole partner in the country. This is the company’s second brand with the French luxury group Kering.
Kering houses other luxury brands like Bottega Veneta, Gucci, Saint Laurent as well as Alexander McQueen among others.
“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" said Darshan Mehta, MD of the Reliance group company.
RBL is a unit 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.
He said only a few brands had embraced the opportunity for creative reinterpretation and reinvention quite like Balenciaga.
“Their creations, bold use of the logo, and a consequent cult in the fashion industry has already created a strong footing throughout the world," added Mehta.
Last month the company inked a long-term distribution agreement with Italian luxury brand Valentino to bring it to India.
The company has brought international designers into the country as well as invested in several Indian labels like Manish Malhotra and Anamika Khanna, Ritu Kumar etc. Reliance Brands currently houses brands like Armani Exchange, Bally, Bottega Veneta, Brooks Brothers, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Ermenegildo Zegna, G-Star Raw, Gas, Giorgio Armani, Hamleys, Hugo Boss, Hunkemoller, Jimmy Choo, Kate Spade New York, Michael Kors, Mothercare and Muji.
According to data from research firm McKinsey’s ‘FashionScope’, India’s apparel market will be worth $59.3 billion this year, making it the sixth largest in the world, comparable to the United Kingdom’s ($65 billion) and Germany’s ($63.1 billion).
