Mukesh Ambani, the billionaire owner of street fashion business Reliance Brands, has entered into an agreement with Reiss. The UK fashion brand willl open in the latter's stores in India.
Reliance Brands is part of the conglomerate Reliance Industries is now planning to open seven stores in the next three years to position the London based brand in the luxury category. The franchise agreement would open the other brands of Reliance Industries to the Indian market, such as Diesel, Kenneth Cole and Zegna. Aside from these brands, the firm also holds the India rights to global collections such as Ed Hardy, Mossimo and Material Girl through a stake purchase with brand management firm Iconix Group.
According to Darshan Mehta, CEO and President of Reliance Brands, "This is a brand which fits in well at the mass premium level, so it is affordable for a growing number of Indian consumers who want to graduate a notch higher for mass brands but cannot afford luxury. Reiss is truly a dual gender brand offering both clothing and accessories."
Join the Conversation