Reliance Brands in talks to acquire Versace rights for India
today Dec 3, 2019
Currently, Infinite Luxury sells Versace products in India. The luxury brand operates one store in New Delhi.
“Reliance Brands is in talks to take over the India franchisee rights of luxury fashion label Versace, and the company is signing a deal to sell products of another Italian luxury brand Valentino in India,” the Economic Times reported citing anonymous sources.
Reliance sees huge potential for growth in the luxury segment and has been constantly strengthening its brand portfolio.
In September, Reliance Brands had signed a deal with Tiffany & Co and plans to launch the luxury jewellery brand in the Indian market next year.
Reliance Brands is a joint-venture partner in India for many high-end and luxury brands including Burberry, Bottega Veneta, Armani, Zegna, Jimmy Choo, Dolce & Gabbana among many others.
It runs a portfolio of around 250 mono-brand boutiques and an equal number of shop-in-shop partnerships. The company plans to open 100 stores in the current year across its portfolio.
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