, India
130 views
Source: Pexels

Reliance Brands ‘well positioned’ to tap India’s luxury apparel market

The company recently partnered with Balenciaga amongst other high-end brands. 

Reliance Brands Limited (RBL) is “well positioned” to capitalise on the growing luxury market after forging partnerships with high-end brands, GlobalData reported. 

Balenciaga joins RBL’s portfolio of 40 international fashion brands, providing the retailer an edge in the $1.1 billion Indian luxury apparel market,” Bobby Verghese, Consumer Analyst at GlobalData, said. 

According to GlobalData, Asia accounted for 31% of Balenciaga’s global sales, making it the brand’s second largest market, next to Western Europe. This is particularly led by China, Japan, and South Korea. 

Read more: Reliance picked as official retailer of Tod’s S.p.A.

“Through the partnership with Reliance Brands, Balenciaga will gain access to the conglomerate’s strong brand name and nationwide network of nearly 600 stores and 750 shop-in-shops across India,” Verghese also said. 

He  added that with the partnership, Balenciaga has the opportunity to attract 25% of Indian consumers, who have reported purchasing luxury products in the last year. 

Read more: Reliance Brands brings Italian luxury brand Valentino to India

“Reliance Brands is on an expansion spree, acquiring the franchises for Italian luxury lifestyle brands Valentino and Tod’s in the first half of 2022, before the latest deal with Kering SA for Balenciaga,” he said. 

“With these top brands in its portfolio, Reliance Brands is well positioned to capitalize on the Indian luxury apparel market, which is set to expand from $1.1 billion in 2022 to $1.4 billion in 2025.”

 

Follow the link for more news on

Kawan Lama Indonesia mengaburkan batas antara belanja online dan offline

Pengunjung  platform e-commerce grup, Ruparupa.

K3Mart memadukan budaya Korea dan produk UMKM lokal dalam satu gerai

Convenience store itu menyediakan perbandingan produk impor dan produk lokal sebesar 50:50 di 30 outlet mereka.

Meningkatkan penelusuran dan efisiensi manajemen inventaris dengan barcode 2D GS1

Barcode 2D ini berfungsi sebagai penyimpanan data yang kompak.

The Coffee Bean & Tea Leaf menyeimbangkan kualitas dan kenyamanan melalui produk ritel

Mereka memperluas rangkaian produk termasuk berbagai kopi single-origin yang disesuaikan dengan preferensi pemanggangan yang berbeda.

KCG menguasai brand positioning untuk segmen premium di Indonesia

Mereka mengadopsi solusi berbasis teknologi terbaru untuk sukses mengelola 92 toko ritel di 20 kota di Indonesia.

Ini alasan brand-brand mewah meningkatkan investasi AI

Sektor ini telah menginvestasikan lebih dari $360 juta dalam AI selama tiga tahun terakhir.

Bacha Coffee menguasai retail kaya sensorik di Jakarta

Memadukan warisan dan kemewahan, Bacha Coffee Plaza Senayan menghadirkan pengalaman unik bagi pecinta kopi Indonesia.

Bagaimana WCT Malls meningkatkan penjualan tenant melalui pemasaran terarah

Melalui pemasaran terarah, mal ini meningkatkan penjualan tenant dan tingkat okupansi.