Reliance Brands has signed a long-term deal with Balenciaga to bring the Spanish haute couture brand to the Indian markets. This is the second luxury deal that the company has signed in the span of one month, the first being with Valentino in late July.
Reliance Brands Ltd (RBL) has signed a strategic deal with the global luxury brand Balenciaga, to bring the best of global couture to the Indian market. With this long-term franchise agreement, RBL will be Balenciaga’s sole India partner to launch the brand in the country and this partnership will be RBL’s second with the parent group Kering, which houses Balenciaga.
Balenciaga is a luxury fashion house, which was founded by Spanish-born Cristóbal Balenciaga in 1917 and established in Paris in 1937. The original house of Balenciaga defined modern couture with its “many innovations to form and technique.” Since his appointment as artistic director in 2015, Demna Gvasalia continues to uphold the vision of Balenciaga, which has expanded to include women’s and men’s ready-to-wear, accessories, and objets d’art.
Speaking about the deal, Darshan Mehta, MD of Reliance Brands Limited said in a statement, “It’s the most opportune time to introduce the brand to the country as the Indian luxury customer has matured and used fashion as a form of creative expression of their individuality.”
Balenciaga’s unprecedented interactions with the expanding digital realm, material developments, and today’s social responsibilities keep it at the forefront of modernity.
Earlier in July, RBL also announced a long-term distribution agreement with Valentino “to bring to India the most established Italian Maison de Couture.”
A press release by RBL said that the first Valentino boutique will be opened in Delhi’s DLF Emporio mall, followed by a flagship store in Mumbai. The first store is due to open in 2022 by the end of the summer, with the flagship store in Mumbai to follow in the coming months. The stores will stock a complete range of womenswear, menswear, footwear, and accessories of the brand.