- Tiffany & Co. jewelry brand has nearly 200 years of history
- Reliance Brands has also teamed up to take the American fashion brand Tory Burch to India
Reliance brands has signed to bring the iconic American jewelry brand Tiffany & Co. to India.
Tiffany has been a great hit in the European Market. In its nearly 200-year presence, Tiffany & Co. has developed into the quintessential American jeweler with a worldwide reputation for glamor and fashion.
“As far as our speculation policy on rumors and concerned, we politely decline to comment,” said a Tiffany spokesman about the deal.
Tiffany’s continues efforts bring fruitful result after a not so good time:
This will be the third effort to create a presence on the Indian market by New York City headquartered Tiffany & Co. His first franchise agreement with a local jeweler was ineffective, opening a shop in Mumbai’s Oberoi hotel years earlier. The company’s shops are available in China, Australia, Canada, France, United Kingdom, Hong Kong, Japan and the UAE in addition to the United States.
Tiffany & Co.’s global net revenues decreased 3% year-on-year to $1 billion in the first half of 2019, and its net profits of $125 million were 12% lesser than a year ago. At the moment of announcing income numbers, CEO Alessandro Bogliolo said the company’s first-quarter findings represented important headwinds in foreign exchange and dramatically reduced global expenditure ascribed to international visitors. Total net revenues of the company decreased 1 percent to $324 million in the Asia Pacific.
Reliance Brands, a subsidiary of Reliance Industries, offers luxury products in India like Ermenegildo Zegna, Brooks Brothers and Bally.
Tory Burch is too in the queue:
In addition to Tiffany & Co., Reliance Brands has teamed up to take Tory Burch to India, an American fashion brand, and both products will be introduced at the Jio World Center Mall in Mumbai, planned to launch in April next year.
Tory Burch, the brand developed, controlled and established by the eponymous author Tory Burch, distributes women’s clothes, clothes, handbags and other merchandise and is marketed globally in specialty shops including Saks Fifth Avenue, Harrods, Bergdorf Goodman, Bloomingdale’s and Nordstrom.
Reliance Retail and International Brands:
Reliance Industries operates its retail business through Reliance Retail Ventures, the holding company for Reliance Retail and Reliance Brands. According to some press, Reliance Industries parent business intends to quickly list Reliance Retail. According to its website, Reliance Retail has a range of over 40 global products spanning luxury, luxury bridge, high premium and high street lifestyle. For these global products, the firm runs 661 shops.