India’s Reliance signs franchise agreement with fashion house Balenciaga

People wearing face masks following the COVID-19 outbreak are seen at a store of French luxury brand Balenciaga at a shopping mall in Beijing, China September 19, 2020. REUTERS/Tingshu Wang

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MUMBAI, Aug 4 (Reuters) – India’s biggest retailer Reliance (RELI.NS) said on Thursday it has signed a long-term franchise agreement with French fashion house Balenciaga, the latest in a series of deals the conglomerate has signed up with high-end products. brands.

Reliance Brands Ltd (RBL), a unit of the conglomerate which also runs India’s largest retail chain, said in a statement that it would be Balenciaga’s sole partner in India.

“This is the most opportune time to introduce the brand to the country as India’s luxury clientele have matured and are using fashion as a form of creative expression of their individuality,” said Darshan Mehta, Managing Director of RBL, in the press release.

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Reliance, run by one of India’s richest men, Mukesh Ambani, has embarked on a deal spree, signing franchise deals with brands like Valentino, Gap and the British coffee and snack chain. Pret A Manager sandwiches.

Targeting growth in luxury, Reliance is building a mall with dozens of outlets for major brands from Louis Vuitton to Guci, according to documents reviewed by Reuters in April.

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Reporting by Shilpa Jamkhandikar in Mumbai Editing by Bernadette Baum

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