Reliance to bring Spain’s Balenciaga to India, Retail News, ET Retail

NEW DELHI: Reliance Models, a subsidiary of Reliance Industries, which sells luxury labels like Ermenegildo Zegna, Brooks Brothers, and Bally in India, is sprucing up its luxury portfolio. Just after bringing iconic American jewelry brand Tiffany and Co to India, Reliance has signed up with luxury trend dwelling Balenciaga to deliver the brand to the state, folks familiar with the matter claimed.

Spanish brand Balenciaga, now owned by luxury big Kering, has not been current in India so much. Reliance strategies to launch the brand at its forthcoming Jio Globe Centre mall in Mumbai, sources claimed.

Email messages despatched to Reliance Models, Kering and Balenciaga went unanswered till the time of likely to push.

Established in 1895 by Cristobal Balenciaga in the Basque region of Spain, Balenciaga was obtained by Kering in 2001. Besides Balenciaga, other brands in Kering’s portfolio include things like Gucci, Saint Laurent, Bottega Veneta, Alexander Mcqueen, Ulysse Nardin, Boucheron and Brioni.

Besides towns like Madrid, Balenciaga has retailers in Capri, Cannes, Berlin, London, and nations around the world like Japan, Greece, Australia, Canada, Hong Kong, Indonesia, and the Chinese mainland.

ET was the first to report in its edition dated July eighteen last 12 months that Reliance Models had signed a deal to deliver Tiffany & Co to India.

As for each Kering’s formal website, the group posted income of 13.seven billion Euros in 2018.

Reliance Models is an arm of Reliance Retail. As for each its website, Reliance Retail has a portfolio of in excess of forty five worldwide brands that spans segments like luxury, bridge to luxury, superior high quality and superior road way of living. Reliance Retail operates in excess of 682 retailers for these worldwide brands.

In 2017, Reliance Models produced deeper inroads into luxury by getting out L Catterton Asia’s 40% stake in its direct competitor Genesis Luxury, which ET documented about in its edition dated September 9, 2017.