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Reliance Brands Limited on Thursday said it has signed a strategic deal with the global luxury brand Balenciaga "to bring the best of global couture to the Indian market". With this long-term franchise agreement, RBL will be Balenciaga’s sole India partner to launch the brand in the country and this partnership will be RBL’s second with the parent group Kering, that houses Balenciaga.
Founded by Spanish-born Cristóbal Balenciaga in 1917 and established in Paris in 1937, the original house of Balenciaga defined modern couture with its many innovations to form and technique. Since his appointment as artistic director in 2015, Demna continues to uphold the vision of Balenciaga through boundary pushing collections, which have expanded to include women’s and men’s ready-to-wear, accessories, and objets d’art.
“Few brands have actually embraced the opportunity for creative reinterpretation and reinvention quite like Balenciaga. Their avant-garde and ingenious creations, bold use of the logo, and a consequent cult in the fashion industry has already created a strong footing throughout the world. 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,” said Darshan Mehta, MD of Reliance Brands Limited.
RBL's current portfolio of brand partnerships comprises Armani Exchange, Bally, Bottega Veneta, Brooks Brothers, Burberry, Canali, Clarks, Coach, Diesel, Dune, EA7, Emporio Armani, Ermenegildo Zegna, amond may others. RBL today operates 2,084 doors split into 821 stores and 1,263 shop-in-shops in India. In 2019, RBL marked its first international foray by acquiring the British toy retailer, Hamleys. Globally Hamleys has 211 doors across 14 countries.
RBL also has equity investments in Indian couture brands Manish Malhotra and Raghavendra Rathore.
First Published: Thu, August 04 2022. 18:18 IST