Reliance to bring Spain’s Balenciaga to India, Retail News, ET Retail
NEW DELHI: Reliance Brands, a subsidiary of Reliance Industries, which sells luxurious labels like Ermenegildo Zegna, Brooks Brothers, and Bally in India, is sprucing up its luxurious portfolio. Following bringing legendary American jewelry brand Tiffany and Co to India, Reliance has signed up with luxurious trend property Balenciaga to provide the brand to the state, persons acquainted with the issue mentioned.
Spanish brand Balenciaga, now owned by luxurious giant Kering, has not been present in India so considerably. Reliance plans to launch the brand at its upcoming Jio Globe Centre mall in Mumbai, sources mentioned.
E-mails sent to Reliance Brands, Kering and Balenciaga went unanswered until the time of going to press.
Founded in 1895 by Cristobal Balenciaga in the Basque region of Spain, Balenciaga was obtained by Kering in 2001. Aside from Balenciaga, other manufacturers in Kering’s portfolio contain Gucci, Saint Laurent, Bottega Veneta, Alexander Mcqueen, Ulysse Nardin, Boucheron and Brioni.
Aside from cities like Madrid, Balenciaga has retailers in Capri, Cannes, Berlin, London, and countries like Japan, Greece, Australia, Canada, Hong Kong, Indonesia, and the Chinese mainland.
ET was the initially to report in its version dated July eighteen past calendar year that Reliance Brands experienced signed a offer to provide Tiffany & Co to India.
As per Kering’s formal web site, the team posted revenue of 13.seven billion Euros in 2018.
Reliance Brands is an arm of Reliance Retail. As per its web site, Reliance Retail has a portfolio of in excess of forty five worldwide manufacturers that spans segments like luxurious, bridge to luxurious, high high quality and high road way of life. Reliance Retail operates in excess of 682 retailers for these worldwide manufacturers.
In 2017, Reliance Brands created deeper inroads into luxurious by getting out L Catterton Asia’s 40{cbf6da10fac2230370cea9448ed9872290737d25c88b8c8db3eefaf8c399e33d} stake in its immediate competitor Genesis Luxurious, which ET reported about in its version dated September nine, 2017.
