Bally to start second innings in India with Reliance Brands
Swiss luxury brand Bally is planning to make its comeback to the Indian market by partnering with Reliance Brands Ltd. It plans to open its first store at the DLF Emporio mall in New Delhi in March 2017.
Under the terms of their agreement, the joint venture will invest in building a world class retail experience by investing in training of staff and opening stores, according to a report in the Mint.
Bally is the latest addition to the Reliance Brands portfolio which includes Steve Madden, Thomas Pink, Brooks Bro’s, Diesel and Super Dry. The company will establish a network of stand-alone Bally stores across major Indian cities.
“In the future, India is the most important country for us. We want to invest and develop the brand in India,” said Frédéric de Narp, chief executive officer of Bally. “Part of this turnaround strategy is the joint venture in India,” said de Narp.
Bally first entered India in a franchise partnership with Bird Group. It had two stores in India, one at the Palladium mall in Mumbai and the other at DLF Emporio Mall. Both these stores have closed in the past two years. The partnership was ended earlier this year.
The company has spent some time in finding the right partner and fine-tuning its strategy for India.
“We have been working in developing this joint venture by developing the trust for the last few years,” said de Narp, adding that more importantly, the joint venture is with Reliance, a profitable company and a reliable retailer.
“In India, Bally will sell its entire range across men’s and women's footwear and accessories. The new store will be part of the brand’s global expansion which has seen the opening of two new concept flagships in Tokyo’s Ginza and Los Angeles’ Rodeo Drive this year. The joint venture will open four stores in Delhi, Mumbai, Kolkata and Chennai in the next 3-4 years”, said Darshan Mehta, chief executive officer, Reliance Brands.
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