Reliance Brands, a part of Reliance group’s retail arm, has signed a deal with Italian luxury lifestyle Tod’s S.p.A to retail its brand across all categories, including footwear, handbags, and accessories in the Indian market. Reliance Industries (RIL), in an exchange filing on Monday, said it has commenced a new journey by entering into a long-term franchise agreement with Tod’s.
“With this long-term Franchise agreement, RBL has become the official retailer of the brand across all categories including footwear, handbags, and accessories in the Indian market,” says RIL.
Tod's has been operational in India since 2008, with mono-brand stores in DLF Emporio, New Delhi and Palladium, Mumbai, and multi-brand e-commerce platform Ajio Luxe.
As per the deal, the management of Tod's existing channels will be taken over by Reliance Brands and the focus will be on enhancing the brand’s potential in the market and strengthening its digital presence.
“Reconciling excellent craftsmanship with a hunger to innovate for the new consumers, Tod’s has crafted a unique space for itself at the global luxury front,” says Darshan Mehta, MD of Reliance Brands.
Carlo Alberto Beretta, Tod's general brand manager, says, “Our common passion for quality and a modern and sophisticated lifestyle will allow us fully to express the potential of this important partnership.”
Reliance Brands (RBL) is a subsidiary of Reliance Retail Ventures and began operations in 2007, with a mandate to launch and build global brands in luxury to premium segments across fashion and lifestyle. In the past five years, RBL has also invested in building and operating homegrown Indian designer brands, operating 1,937 doors split into 732 stores and 1,205 shopin-shops in India.
Last month, RBL acquired a 51% majority stake in couturiers Abu Jani Sandeep Khosla (AJSK) for an undisclosed amount. The strategic partnership is aimed at accelerating the 35-year-old couture house’s growth plans in India and across the globe. Based in Mumbai, Abu Jani and Sandeep Khosla are the country’s premier couturiers and they are best distinguished for introducing mirrorwork, crushed cotton and silk, chikankari and khadi as couture.
