Reliance Brands strikes a deal with UK’s Reiss

Mukesh Ambani's high street fashion business Reliance Brands

has inked a deal with Reiss, a UK fashion brand for opening stores in India. Reliance Brands, a part of Reliance Industries, plans to open five to seven Reiss stores in three years, positioning the London-based brand in the affordable luxury category.

This long-term franchise agreement expands the list of international brands in Reliance Brands’ portfolio, which includes Diesel, Kenneth Cole and Zegna, among others. It also holds the India rights for a collection of global brands such as Ed Hardy, Mossimo, Material Girl through a stake purchase in the local unit of Iconix group. Reliance Brands currently operates 68 single-brand stores across the country and has aggressively added new international brands over the last few years through joint ventures and licensing deals.

Reiss began operations in the UK in 1971 and later expanded to markets like China, Dubai and Russia along with making a successful entry into the US, unlike most British retailers. The brand founded by David Reiss is privately held and has 100 stores worldwide. It is expected to be priced around Rs 8,000 going up to Rs 45,000 in India. Besides, men’s and women’s wear, the brand sells a range of accessories and footwear.