Reliance Brands has signed an exclusive agreement with Kering Group.
French multinational Kering Group will bring its Balenciaga brand to the fast-growing Indian market. Reliance Brands, which in mid-July agreed to develop Valentino in the country, has signed an agreement for the expansion of another luxury brand.
According to the agreement, Reliance Brands will open Balenciaga stores in India on exclusive terms. Thus, the brand will soon join Bottega Veneta, Burberry, Giorgio Armani, Jimmy Choo and Salvatore Ferragamo, which is developed by the country's largest retail empire.
Reliance Brands currently has a portfolio of more than 820 stores and about 1,260 shop-in-shop outlets across India. In recent months, the company has also managed to sign partnership agreements with Maison Valentino, Pret A Manger and Tod's. In addition, the retailer continues to develop local brands, this year adding designer brands Rahul Mishra and Abu Jani Sandeep Khosla to its portfolio.
Mumbai-based Reliance Brands is part of Reliance Industries, the country's largest holding, which owns businesses in energy, petrochemicals, textiles, telecommunications and retail. Reliance Brands is ranked 102nd by revenue and 39th by market capitalization on the Forbes Global 2000 list of the world's largest companies.