Indian luxury retailer Reliance Brands, not affected by economic downturn
Reliance Brands, one of India’s luxury fashion and accessories retailers, confirmed this week it has not been affected by the economic downturn and slowing consumer demand. Moreover the company did not need to extend their sale period by even a day. With an aggressive strategy to tie up with more international brands while putting in efforts to sell its brands in small cities, the company is looking at capturing a larger market share of luxury business.
It is betting on a three pronged strategy in luxury business, for instance, it has Ermenegildo Zegna and Paul & Shark which boast average price points from Rs 15,000 and above. In the affordable luxury segment the price range of Rs 8,000 to Rs 10,000, Reliance operates in franchising: Diesel Jeans and Thomas Pink and in the third high-premium segment, it now has stores under Quicksilver, Timberland among others.
The company plans to woo savvy Indian consumer looking for international labels in all these luxury segments. According to the company’s CEO, it is seeking to create value in the business and build a portfolio of brands across luxury, affordable luxury and high premium. The latest premium brand introduced to India by Reliance Brands is American Kenneth Cole.
adapted from fashionunited.in