 "Ambani, Mukesh, Reliance")
Indian conglomerates are prepping to collaborate with global luxury brands as they appear to have taken note of the craze for them in the country. Business houses like the Tata Group, Reliance, and Aditya Birla Group are making plans to get a hold of this luxury retail market as they plan to partner with global brands like Shein, Balenciaga, and Armani.
In a bid to add a global flavour to the Indian retail landscape, Reliance, Tata, and a number of other Indian brands have begun a series of joint ventures with global luxury brands, a Financial Express (FE) report said.
As a part of a joint venture, two companies come together and form a new entity that collaborates on a specific project. In the case of Starbucks and Tata, the two companies joined hands to establish a joint venture called Tata Starbucks Limited which operates Starbucks stores in India. The partnership allowed Starbucks access to the local expertise of Tata and gave Tata a global brand like Starbucks, which is known for its expertise in the coffee industry.
Reliance and Shein
Led by Mukesh Ambani's daughter, Isha Ambani, the Rs four trillion retail business has joined hands with Shein, which allows the latter to enter the Indian markets once again. Earlier, Shein, along with several other Chinese apps was banned by the government which liked the brand for its affordable clothing products.
Reliance and Balenciaga
Mukesh Ambani has announced Reliance's collaboration with the ultra-luxurious fashion brand, Balenciaga to the Indian market. As a part of the collaboration, Reliance will help Balenciaga in setting up multiple fancy brick-and-mortar stores along with establishing its online retail store network.
Tata CLiQ and TimeVallee
Tata CLiQ is partnering with the renowned Swiss luxury multi-brand watch and jewellery store in India. The joint venture has recently launched its digital boutique in the country. The online platform offers an exquisite selection of watches from six renowned brands including Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, and Roger Dubuis.
Reliance and Armani Caffe
Reliance has announced yet another collaboration within the culinary world with its latest partnership with Emporio Armani. The Armani Cafe will soon make its debut at Reliance's upcoming shopping destination, the Bandra Kurla Mall.
Aditya Birla Fashion X Galeries Lafayette
According to a report cited by FE, the renowned shopping brand of Paris will make its entry into the Indian market in 2024. The European shopping hub will enter the Indian retail market space in partnership with Aditya Birla Fashion and Retail Ltd. The entry of Galeries Lafayette marks a significant development in the Indian retail market as the brand will offer Indians a taste of a world-class retail experience.
