Only days after the country’s largest conglomerate and company Reliance Industries announced their plans to open outlets of the renowned sandwich shop franchise chain Pret a Manger in India, besides signing partnership deals with several luxury brands, including the British luxury fashion Burberry, the Mukesh Ambani owned company will now bring in the clothing of the American worldwide clothing and accessories retailer Gap Inc to India.
In simple words, the oil-to-telecom conglomerate Reliance Industries’ retail arm Reliance Retail, which is also the country’s largest retail company has informed that it has joined hands with the American clothing retailer Gap Inc to sell the brands clothing products locally in India, which will also mark the company’s expansion in the emerging fashion hub India.
Here’s everything you need to know about the Reliance Retail and Gap Inc deal.
Reliance Retail to Sell Gap Products in India
As per a long-term franchise agreement between Reliance and Gap, the Mukesh Ambani-led giant will sell Gap’s merchandise through a mix of exclusive brand stores, multi-brand outlets and e-commerce platforms, as per the company’s official statement made this week.
“The partnership is aimed at leveraging Gap’s position as a leading casual lifestyle brand,” said Reliance Retail.
The deal between the two companies comes at a time when the country’s largest company in terms of market capitalisation RIL is busy making partnership deals with multiple foreign brands to expand their arms in India.
Besides, due to surging inflation, Gap’s brands including Old Navy and Banana Republic are facing weak demand, bringing a real nightmare to the American retailer. The deal with Reliance Retail comes at such a difficult time.
According to Adrienne Gernand, Gap Inc’s Managing Director, International and Global Licensing & Wholesale, the company has been eyeing to expand across key international markets, and addresses the deal with Reliance as a part of its efforts to diversify its business portfolio through a partner-based model.
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