India's bigger retailer Reliance Brands on Thursday announced a long-term franchise deal with French fashion house Balenciaga, the latest in a flurry of deals the conglomerate has signed with high-end brands. Having established a firm ground amongst homegrown labels and designers such as Manish Malhotra, Abu Jani Sandeep Khosla, Rahul Mishra and more, RBL has ventured into international brands. Recently, it had announced its partnership with global label and luxury maison, Valentino.
Reliance Brands Ltd (RBL), a unit of the conglomerate that also runs India's biggest retail chain, said in a statement it would be Balenciaga's sole partner in India and this partnership will be RBL’s second with the parent group Kering, that houses Balenciaga.
“Few brands have actually embraced the opportunity for creative reinterpretation and reinvention quite like Balenciaga. Their avant-garde and ingenious creations, bold use of the logo, and a consequent cult in the fashion industry has 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 using fashion as a form of creative expression of their individuality” said Darshan Mehta, MD of Reliance Brands Limited.
Balenciaga's unprecedented interactions with the expanding digital realm, material developments, and today's social responsibilities keep it at the forefront of modernity, Reliance Brands Limited said in the statement.
Reliance, run by one of India's richest men, Mukesh Ambani, has been on a dealmaking spree, signing franchise agreements with brands like Valentino, Gap and British coffee and sandwich chain Pret-A-Manager.
Targeting growth in luxury, Reliance is building a mall with dozens of outlets for powerhouse brands from Louis Vuitton to Gucci, documents reviewed by Reuters showed in April.
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