Reliance to launch Balenciaga in India
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Indian retailer Reliance Brands is to launch Spanish fashion label Balenciaga in India.
The move comes shortly after Reliance signed a deal to bring US luxury jewelry brand Tiffany and Co to India last July, with the first store opening last month in New Delhi.
The first Balenciaga in India store will open in the Jio World Centre mall in Mumbai.
Reliance now holds a portfolio of more than 45 international luxury and premium brands.It operates more than 682 stores.
Balenciaga is a Basque heritage label that was acquired by Kering nearly 20 years ago. It sells in several locations in Asia, including Hong Kong, Indonesia, and Mainland China. It achieved US$15 billion in sales in 2018.
Questions & Answers
Q.Which Indian city will host the first Balenciaga store?
Which Indian city will host the first Balenciaga store?
The initial Balenciaga store in India is planned for Mumbai. It will be located within the Jio World Centre mall, marking the brand's first physical presence in the country.
Q.Does Reliance Brands already manage other luxury brands in India?
Does Reliance Brands already manage other luxury brands in India?
Yes, Reliance Brands holds a portfolio exceeding 45 international luxury and premium brands. This includes US luxury jewelry brand Tiffany and Co, which recently opened its first store in New Delhi.
Q.Is Balenciaga a new brand to the Asian market?
Is Balenciaga a new brand to the Asian market?
No, Balenciaga is not new to Asia. The brand already has a presence in several other Asian locations, including Hong Kong, Indonesia, and Mainland China.
Q.Who owns Balenciaga internationally?
Who owns Balenciaga internationally?
Balenciaga is owned by Kering. Kering acquired the Basque heritage label almost two decades ago, integrating it into their luxury brand portfolio.
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