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India's Reliance signs franchise deal with fashion house Balenciaga

MUMBAI (Reuters) - India's bigger retailer Reliance said on Thursday that had signed a long-term franchise deal with French fashion house Balenciaga, the latest in a flurry of...
India's Reliance signs franchise deal with fashion house Balenciaga © Reuters. FILE PHOTO: People wearing face masks following the COVID-19 outbreak are seen at a store of French luxury brand Balenciaga inside a shopping mall in Beijing, China September 19, 2020. REUTERS/Tingshu Wang

MUMBAI (Reuters) - India's bigger retailer Reliance said on Thursday that had signed a long-term franchise deal with French fashion house Balenciaga, the latest in a flurry of deals the conglomerate has signed with high-end brands.

Reliance Brands Ltd (RBL), a unit of the conglomerate that also runs India's biggest retail chain, said in a statement it would be Balenciaga's sole partner in India.

"It’s the most opportune time to introduce the brand to the country as the Indian luxury customer has matured and using fashion as a form of creative expression of their individuality" Darshan Mehta, managing director of RBL, said in the statement.

Reliance, run by one of India's richest men, Mukesh Ambani, has been on a dealmaking spree, signing franchise agreements with brands like Valentino, Gap and British coffee and sandwich chain Pret A Manager.

Targeting growth in luxury, Reliance is building a mall with dozens of outlets for powerhouse brands from Louis Vuitton to Guci, documents reviewed by Reuters showed in April.

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13-08-2022 09:59:12 (UTC+7)

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1.0261

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 EUR/USD1.0261↑ Buy
 GBP/USD1.2135↑ Sell
 USD/JPY133.46↑ Sell
 AUD/USD0.7121↑ Sell
 USD/CAD1.2774↑ Buy
 EUR/JPY136.93Sell
 EUR/CHF0.9659↑ Sell
 Gold1,818.40↑ Buy
 Silver20.835↑ Buy
 Copper3.6783↑ Buy
 Crude Oil WTI91.88↑ Buy
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 Natural Gas8.780↑ Buy
 US Coffee C227.53↑ Buy
 Euro Stoxx 503,776.81Sell
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 FTSE 1007,500.89Neutral
 Hang Seng20,175.62↑ Buy
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 IBEX 358,400.40↑ Sell
 BASF44.155↑ Buy
 Bayer54.15↑ Buy
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 Adidas173.20↑ Buy
 Lufthansa6.588↑ Sell
 Siemens AG111.84↑ Sell
 Deutsche Bank AG9.061↑ Buy
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# So hôm qua # Chênh TG
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