Latest News | Reliance to Bring American Luxury Retailer Saks Fifth Avenue, Enters into Franchise Agreement

New Delhi, Jan 16 (PTI) Country's leading retailer Reliance Retail as part of its expansion into the luxury segment is introducing Saks Fifth Avenue, an American luxury department store chain to the Indian market..

Its "premium brands business entered into India franchise arrangement for Saks Fifth Avenue," said Reliance Industries in its earning statement on Thursday.

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Saks Fifth Avenue an American luxury department store, is a premier destination for luxury fashion. Since its inception in 1924, it has featured an expertly curated assortment of fashion and highly personalised customer service.

It operates a network of 41 stores across North America.

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"So to address the super Luxury segment in India, we entered into a franchise for India with Saks, Fifth Avenue, which is a global luxury retailer," said Reliance Retail CFO Dinesh Taluja during the earnings call.

Reliance's Premium Brands business has also entered into a JV with Mothercare PLC to acquire the Mothercare brand and its IP assets for the Indian subcontinent. It has formed a Joint Venture with Mothercare plc, a global specialist in products for parents and young children.

Earlier, it had brought the iconic American jeweller Tiffany & Co to Indian market in partnership.

Its premium Brands business also strengthened its portfolio with the launch of luxury fashion brands Sandro and London-based restaurant chain EL&N Cafes to India.

Besides Reliance is also moving into the FMCG segment, towards its ambition to become a sizeable FMCG player and is continuing to deepen its presence in general trade channels.

Its consumer brands continued to deliver growth across categories and crossed the Rs 8,000-crore revenue mark in the nine months of FY25.

"Campa & Independence brands continued to gain traction across markets," it said, adding that now Campa has over 10 per cent market share in the sparkling beverage category in select states.

"Both brands are projected to cross Rs 1,000 crore turnover each in FY25," it said.

With its consumer brands, including Independence and other acquired brands, Reliance Retail has ambitions to become a sizeable FMCG player and is continuing to deepen its presence in general trade channels.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)