Reliance Brands to launch in-house label
Reliance Brands, a subsidiary of India-based group Reliance Retail, plans to step up focus on the domestic fashion segment by investing in local brands and launching an in-house label by the end of 2011.
Its tie-ups so far have been with international brands, either through licensing agreements or joint ventures, to get them into India. It has six such tie-ups with brands including Diesel, Timberland, Paul & Shark, Quicksilver & Roxy and Steve Madden.
Reliance Brands president and CEO Darshan Mehta said: “We are in talks with players to take up non-majority stakes in their brands. This will be in the nature of a strategic investment.
“We have also set up a team that will work on launching an in-house label by the fourth quarter of the current calendar year or latest by the first quarter of the next calendar year.”
Reliance is also planning to extend its network of stores for its international brands. From around 15 at present, the plan, according Mr Mehta, is to take the total number of stores to 55 by the end of 2011. “By the end of the next calendar year, we hope to take the number of stores to over 100,” he said.
Meanwhile, the company is also looking to expand its brand alliances into the beauty space. Its current international tie-ups span apparels, footwear and accessories.
