No surprises here.
Reliance Brands has once again forayed into expanding into luxury retail by entering into a multi-year franchise agreement with Tod’s, Italian luxury footwear, handbags, and accessories brand. The brand licensing arm of Reliance Industries Ltd entered into a “long-term franchise agreement” with the Italian luxury icon to retail the brand in India.
Tod’s has been operational in India since 2008 with mono-brand stores in DLF Emporio, New Delhi and Palladium, Mumbai, and Reliance’s very own multi-brand e-commerce platform Ajio Luxe.
The Italian luxury brand is another feather in the hat for Reliance’s luxury retail spree. Over the years, Reliance Brands has been rapidly acquiring brands or forging partnerships to cement its position as the country’s largest seller of Indian and global brands.
The management of existing channels will be taken over by Reliance Brands Limited, and the focus will be on enhancing the brand’s potential in the market and strengthening its digital presence.
Seems like Reliance has a thing for Italian lux? Well, it did have its eyes on Italy’s Luxottica Group to open Ray-Ban branded stores in India a few days ago.
Too long? Here’s a one-liner: Reliance Brands will become the official retailer of Tod’s, an Italian luxury brand of footwear, handbags, and accessories in the Indian market.