Balenciaga set to enter India with RIL’s Reliance Brands
As Reliance Brands continues to strengthen its luxury fashion portfolio, it has signed an agreement to bring Balenciaga to India, ET Bureau reported. Balenciaga, which was acquired by luxury giant Kering in 2001, will launch in India for the first time at JioWorld Centre mall in Mumbai, sources told ET Bureau.
Balenciaga was established by designer Cristobal Balenciaga in Spain in 1895. The brand has stores across the world in countries including Spain, the UK, Japan, China, Greece, and Australia, among others.
Reliance Brands retails a number of international luxury fashion brands in India under license agreements including Bally and Ermenegildo Zegna, according to its website.
Most recently, the business signed a deal to bring fine jewellery brand Tiffany & Co to India. Reliance Brands also retails brands in the bridge-to-luxury, high premium, and high street sectors with a total of 45 international brands on its roster.
Kering owns a large number of luxury brands including Gucci, Boucheron, Saint Laurent, and Bottega Veneta, among others. The business reported revenue of €13.7 billion (Rs 99,791 crore) in 2018 on its website.
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