Reliance Brands inks pact to introduce luxury brand Balenciaga in India
Reliance Brands has signed a long-term franchise agreement with global luxury brand Balenciaga, it announced on Thursday.
With this agreement, Reliance Brands will be Balenciaga’s sole India partner to launch the brand in the country. This will be Reliance Brands’ second partnership with Kering, the parent group of Balenciaga, Reliance Brands said in a release.
The agreement comes after it recently signed a long-term distribution agreement with Italian fashion house Maison Valentino.
Balenciaga was founded by Spanish-born Cristóbal Balenciaga in 1917 and established in Paris in 1937. Since his appointment as artistic director in 2015, Demna Gvasalia continues to uphold the brand’s vision through boundary-pushing collections, which have expanded to include women’s and men’s ready-to-wear, accessories and objets d’art, Reliance Brands said.
“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 is using fashion as a form of creative expression of their individuality,” said Darshan Mehta, MD of Reliance Brands.
Reliance Brands is a subsidiary of Reliance Retail Ventures — the retail arm of billionaire Mukesh Ambani’s Reliance Group. It began operations in 2007 with a mandate to launch and build global brands in luxury to premium segments across fashion and lifestyle.