Gas eyes JV with Reliance Brands to spread India presence

Italian premium denim brand Gas is looking at partnering Reliance Brands to expand its presence in India. This moment, the fashion arm of Reliance Industries runs exclusive Gas outlets while the brand's wholesale and distribution business is handled by Gas Jeans India, a wholly owned subsidiary of Gas brand owner Grotto.

Both companies are said to be contemplating making an investment application to the Foreign Investment Promotion Board of India (FIPB). The company Gas Jeans India reported EBITDA level profits for the first time in the last year and it now expects wholesale revenues to touch Rs 100 crores in India, this year. Gas branded apparel and accessories are currently sold at over 65 points of sale, including 16 exclusive outlets run by Reliance Brands.

The parent company Grotto is a family business running global fashion enterprise present in 56 countries. The brand offers one collection across all its stores worldwide having same design, same fabric, same colours and same quality, except sizes that vary according to the geographies.