Reliance Industries’ retail section Reliance Retail has already been valued by potential investors at over Rs 2.5 lakh crore ($37.6 billion) after starting to trade on the unlisted market two weeks ago.
Prada has become the latest big name in luxury fashion to go fur-free with the group’s brands, including Prada itself plus Miu Miu, Church’s and Car Shoe, to stop using fur from its SS20 womenswear collection.
Luxxuberance, multi-brand handbags and luxury accessories store from Brandzstorm India, is looking to expand its retail presence across India and will be opening 40 standalone outlets over the next three years.
Reliance Industries has started to remove its clothing, footwear, and lifestyle brands from e-commerce marketplaces such as Flipkart and Amazon as it gears up to launch its own business to customer e-commerce platform.
France accounts for over one quarter of the total sales of the top 100 luxury corporations worldwide according to Deloitte’s 2019 report, with 9 groups listed and LVMH, L'Oréal, Kering and Chanel in the top 10.
Fur, so long associated with glamour and luxury, has lost its lustre. Over the course of the past year, many of the world's most prestigious fashion houses have announced plans to stop using the controversial material.