Reliance Brands has signed a long-term franchise agreement with Balenciaga and the Indian company will also become its sole partner in the country. Reliance Trends could be a leading omnichannel lifestyle distributor with over 800 retail outlets across India. Reliance Trends offers stylish and high-quality products in women’s, men’s, and children’s clothing and fashion. Balenciaga is legendary for its unique craftsmanship and innovative design.
Reliance Brands Limited has signed an agreement with Balenciaga to launch the planetary luxury brand in the Indian market. Both have signed a long-term franchise agreement for Reliance Retail Ventures to become its sole partner in the country. it is the company’s second brand with French luxury group Kering. Kering also has other luxury brands such as Bottega Veneta, Gucci, Saint Laurent, and Alexander McQueen, among others.
Darshan Mehta, Managing Director, Reliance Group said, “It is the correct and easy time to launch new and creative brands in India as the Indian luxury customer and fashion fans have matured and are using fashion and styles as a scale to creatively express their individuality by looks,”
RBL began operations in 2007 with a mandate to introduce and build global brands within the luxury to premium segments across fashion and lifestyle. He said few brands have made a better place of creative reinterpretation and reinvention as much as Balenciaga. Mehta also added “Their creations, new designs, bold use of branding and subsequent cult following within the style business have already built a strong presence around the world,”
Last month, the company signed a long-term distribution deal with Italian luxury brand Valentino to bring it to India. the company brought international designers to the country and invested in several Indian brands like Manish Malhotra and Anamika Khanna, Ritu Kumar, etc. Reliance Brands currently represents 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 NY, Michael Kors, Mothercare, and Muji.
According to McKinsey’s ‘FashionScope’ research firm, India’s apparel market is worth $59.3 billion this year, making it the sixth largest on the planet, just behind the UK ($65 billion) and Germany ($63.1 billion).