Mumbai: Reliance Retail said it has partnered with Britain’s ASOS to build the online fashion retailer’s online and offline presence in India as it eyes a bigger share of the market.
ASOS could set up shop in India via Reliance’s online shopping platform Ajio before the festive season this year, according to people aware of the development, and set up physical stores later. The announcement follows reports that Reliance Retail plans to tie up with Chinese fast-fashion retailer Shein for its re-entry into India.
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Reliance Retail said in a statement on Thursday, “Under a long-term licensing agreement, Reliance Retail will be the exclusive retail partner for ASOS across all online and offline channels in India. Leveraging its extensive experience of operating omni-channel retail networks, Reliance Retail will introduce ASOS’s portfolio of owned labels to the Indian market through a multi-channel presence for ASOS across retail formats such as exclusive brand stores, multi-brand stores and online platforms.”
No third-party brands
ASOS only sells its own products in all markets except for a few, in which it also sells third-party brands. Under its agreement with Reliance – its first exclusive, country-wide retail partnership – it will only sell its own labels in India, such as ASOS Design. The company offers products such as women’s wear, men’s wear, footwear, accessories and jewellery and beauty products. Founded in 2000 by Nicholas Jon Robertson and Quentin John Griffiths, ASOS is headquartered in London. In 2022 it acquired British fashion retailers Topshop and Miss Selfridge.
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Isha Ambani, director, Reliance Retail Ventures Limited, said the partnership marks “a significant stride in our dedication to bringing the pulse of global trends to Indian shores”. She added “This partnership reaffirms our status as India’s premier retail destination, ensuring our customers have access to the cutting-edge fashion styles they crave.”
José Antonio Ramos, CEO of ASOS, said, “Together with Reliance Retail, we’re excited to be bringing some of our fashion-led own-brands to customers in India – including ASOS Design, one of the biggest British fashion brands on the planet.”
Reliance’s retail push
Reliance Retail Ventures Limited (Reliance Retail), is the holding company for all retail ventures of Reliance Industries Limited. Apart from operating its own retail stores in India it has been building its presence online and offline by securing the rights to sell large global brand in India.
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Late last year, beauty retailer Sephora severed its eight-year partnership with Arvind Fashions Ltd and partnered Reliance Beauty & Personal Care Ltd, a wholly owned subsidiary of Reliance Retail, to develop beauty retail in India. In 2022, Reliance Retail announced a long-term franchise agreement to sell US fashion brand Gap’s products across in India.
Reliance Retail and its subsidiaries operate a network of more than 18,836 stores and digital platforms across grocery, consumer electronics, fashion & lifestyle, and pharma.
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Published: 16 May 2024, 06:02 PM IST