Salvatore Ferragamo partners with Reliance Brands for India expansion
Italian luxury brand Salvatore Ferragamo has signed a long-term deal with Reliance Brands Limited-owned Genesis Luxury for its India expansion.
With this partnership, Salvatore Ferragamo is looking to expand its retail presence across the country through Genesis Luxury which will be the exclusive partner to sell Ferragamo products across categories through all relevant channels of sale.
The Italian brand has already started revamping its existing stores and it recently revamped one of its stores in DLF Mall, New Delhi with a new interior concept and product sections.
Salvatore Ferragamo sees great potential in the Indian market and is expecting it to make significant contributions to its overall revenues in the future.
“This is a market with high development potential which could record interesting growth rates in the future,” Micaela Le Divelec Lemmi, CEO of the Salvatore Ferragamo Group told the Economic Times.
Sanjay Kapoor, president of Genesis Luxury, added, “We are extremely happy to partner with Salvatore Ferragamo, one of the most well-known luxury brands worldwide. Salvatore Ferragamo will bring great value to the Genesis portfolio with its 90-year old legacy of innovation and Italian craftsmanship”.
In 2018, Reliance Brands, owned by retail chain Reliance Retail had bought out a majority stake in Genesis Luxury.
Reliance Brands is a joint-venture partner in India for many high-end and luxury brands including Burberry, Bottega Veneta, Armani, Zegna, Jimmy Choo, and Dolce & Gabbana. It runs a portfolio of around 250 monobrand boutiques and an equal number of shop-in-shop partnerships.
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