Reliance Industries, in its earning statement on Thursday, stated that its premium brands business has entered into India franchise arrangement for Saks Fifth Avenue
Aimed at expanding its partnerships and strengthening its hold in the super luxury segment in India, Reliance Retail, the retail arm of Reliance has entered into a franchise for India with Saks Fifth Avenue, an American luxury department store.
Reliance Industries, in its earning statement on Thursday, stated that its premium brands business has entered into India franchise arrangement for Saks Fifth Avenue. “We continue to expand our partnerships. So, to address the super luxury segment in India, we entered into a franchise for India with Saks Fifth Avenue, which is a global luxury retailer,” stated Dinesh Taluja, the Chief Financial Officer (CFO) at Reliance Retail during the earnings call.
In order to further strengthen the IP, the company has done a joint venture with Mothercare PLC, where it owns a majority stake in the SPV, which owns the Mothercare brand for the Indian subcontinent. Taluja explained that this gives them ownership of the IP and a lot more flexibility to expand the range, source locally, as well as improve the margins.
In addition, the company added that its consumer brand business is scaling up exponentially. Campa and Independence, two of its prominent brands, continued to gain traction. The company added that each of them is aiming to cross Rs 1,000 crore turnover in the current fiscal. “Consumer brand business is scaling up exponentially. In the nine months FY 25 – this is our FMCG business – we had revenues upward of Rs 8,000 crore,” stated the company.
It added that Campa has already gained 10 per cent market share in the sparkly beverage category in select states. As per the company, the focus here is three pronged expand distribution in the priority states, strengthening its product portfolio through innovative products and partnerships.
