Reliance Brands partners with Brooks Brothers

Reliance Brands in its fifth joint venture, has joined hands with

Brooks Brothers, the oldest American men’s clothing chain. Reliance Brands will hold 49 per cent of the stakes in the newly formed venture, while the rest will be with Brooks Brothers. Reliance Brands believes the presence of Brooks Brothers in India will create a new benchmark in the nation’s fashion industry.

Reliance Brands, a unit of Reliance Industries shaped its JV after prolonged discussions spanning nearly fifteen months. Brooks Brothers is privately owned by an Italian billionaire Claudio Del Vecchio, son of the founder of Luxottica, the world’s largest eyewear company that owns brands like Ray-Ban and Oakley.

Before venturing to India, Brooks Brothers had entered China eight years ago, another fast growing fashion lifestyle market. Claudio Del Vecchio, chairman & CEO of Brooks Brothers said, “We have partnered with Reliance Brands because of their passion for the Brooks Brothers brand, their track record with other premium brands, their expertise in this sector and also their connectivity within India.”

According to Darshan Mehta, the President and CEO of Reliance Brands, the new venture will see opening of stores in large metros considering rising demand from Indian shoppers for international brands. The price range for Brooks’ shirts and suit starts from Rs 5,000 to Rs 60,000 and the brand is positioned against the likes of Thomas Pink, Kenneth Cole, Quicksilver, Steve Madden and Timberland, which Reliance retails through 60 stores in the country. Women and kids wear by Brooks will also be introduced later in the Indian market. Interestingly, Brooks’ entry to India has come as full circle as it was the first American brand to introduce the famous Madras Checks to America back in the 1920s.

Earlier, Reliance formed a joint venture with firms like Iconix, Paul & Shark, Diesel and Ermenegildo Zegna.