- A subsidiary of Reliance Industries – Reliance brands are soon bringing Balenciaga in India.
- The company deals in luxury brands like Ermenegildo Zegna, Brooks Brothers, Bally, Tiffany, and many others.
The conglomerate is fuelling up its luxury segment this year. After introducing American jewelry brand Tiffany and Co, thanks to Reliance brands for bringing another luxury company in India – Balenciaga – a Spanish brand now owned by luxury giant Kering.
Reliance plans to launch the brand at its upcoming Jio World Centre Mall in Mumbai according to some sources.
A short history of Balenciaga:
The brand was established in 1985 by Cristobal Balenciaga in the Basque region of Spain. However, in 2001 it was acquired Kering. Kering’s portfolio includes other brands like – Gucci, Saint Laurent, Bottega Veneta, Alexander Mcqueen, Ulysse Nardin, Boucheron & Brioni.
Kering’s group posted revenue of around 13.7 billion Euros in 2018.
Coming Back to Reliance Brands:
It is an arm of Reliance Retail and according to their website, they have a huge portfolio of not less 45 international brands that offers luxury products, high premium, and high street lifestyle.
Reliance Retail operated over 682 stores for these international brands. In 2017, the company took a deep dive into luxury by purchasing 40% shares of L Catterton Asia.
With this, the company is stronger and its vision to provide premium quality products has become even strong.
Last year the company was in talks to take over India franchisee rights of luxury fashion label – Versace. For more than 2 years Reliance brands have been in talks for the same.
With Balenciaga, Reliance’s portfolio is not only big but even more attractive. Indian being a highly diversified country, luxury shopping seems to be the next big hype.
On behalf of Next Big Brand, we congratulate Reliance for another addition in its portfolio. Overall the conglomerate has been on a Godspeed growth and doesn’t seem to stop!