Reliance Brands Ltd., a part of Reliance Industries Group, has entered into a joint venture with the Swiss luxury brand Bally.
The company said in a statement that under the terms of the agreement, the joint venture will have exclusive distribution and marketing rights for Bally in the country. The luxury brand offers designs across various categories, including accessories, ready-to-wear and more.
Commenting on the partnership, Frederic de Narp, CEO, Bally said, “We are very excited about this joint venture. In collaboration with Reliance, we have identified a roadmap to develop the brand in proven retail locations in four key cities – New Delhi, Mumbai, Chennai and Kolkata. Indian consumers are very discerning and have an appreciation for quality and craftsmanship, the demands for which Bally is perfectly suited to meet.”
It may be mentioned here that the new store in India will be part of Bally’s global expansion plan under which the brand recently opened two new concept flagships in Tokyo and Los Angeles this year. Two more new flagship stores on New York’s Madison Avenue and Beijing’s China World Mall will be opened next year.