Reliance Brands eyes market beyond fashion biz

Reliance Brands, is in a happy space as it achieving

revenues between January and July 2012 ahead of our budgets. The company, according to Darshan Mehta, CEO, Reliance Brands has not been affected by the economic slump and low consumer sentiment so far. And they did not have to extend the sale period even by a day. With aggressive strategy to tie up with more international brands while putting in various efforts to sell its brands in small cities, the company is looking at capturing the market share of business beyond fashion.

After forming joint ventures (JVs) and distribution agreements with international brands — such as Quicksilver and Brooks Brothers, among others — in the fashion space, Reliance Brands has already signed up with a dozen brands. Mehta says that it is looking forward to create value in the business and build a portfolio of brands across luxury, affordable luxury and high premium.

Recently Quiksilver, through a European subsidiary, has sought permission to float a 51:49 joint venture with Reliance Brands with which it had a distribution agreement till now. The brand is looking at 51 per cent stake under single-brand FDI.

After bringing brands like Diesel, Ermengildo Zegna, Paul & Shark, Timberland, Steve Madden, Quicksilver and Roxy to India, Kenneth Cole was the seventh recent international fashion brand coming through the Reliance firm, which was set up five years ago to build a formidable fashion business as part of its broader retail ambitions.