Source: The Economic Times, June 16, 2017
NEW DELHI: Reliance Industries’ subsidiary Reliance Brands, which sells a raft of global labels, has inked a deal with Italian fashion house Valentino to launch its products in India, people familiar with the development said.
“Reliance Brands and Valentino are working on figuring out the partnership arrangement,” they said. The financial details of the agreement could not be ascertained.
Valentino, known for its plush red carpet dresses, wedding gowns, and rockstud heels, had been in talks with multiple retailers to establish its presence in the country. ET had reported earlier that DLF Luxury Retail and IDFS Tradings were among the retailers Valentino was talking to. Reliance Brands retails luxury brands like Ermenegildo Zegna, Bally and Brooks Brothers in India. Email queries sent to both companies remained unanswered till as of press time on Thursday.
Over the past one year, a mix of luxury as well as bridge to luxury brands like Coach, H Moser & Cie, Isaia, Kate Spade New York have debuted in India.
Berluti, a subsidiary brand of luxury goods conglomerate Louis Vuitton Moet Hennessy, which retails menswear and is known for its distinct leather finishing of calfskin, kangaroo leather and alligator skin shoes, is also expected to launch in India soon at the Emporio, industry executives said.