Monday, May 20, 2024

Isha Ambani-led Reliance Retail set to take on Zara and H&M, brings UK’s fashion retailer ASOS to India – ET Retail

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New Delhi: Isha Ambani-led Reliance Retail is set to bring the UK’s leading online fashion retailer ASOS to the Indian market for 20-somethings. On Thursday, the firm said it has entered into a long-term partnership with the ASOS bringing global retail experience for Indian consumers across its online and offline channels in India.

The agreement is the UK’s online fashion retailer’s first country-wide exclusive retail partnership. Its curated portfolio of fashion-led own-brand labels will be introduced in the Indian market through a multi-channel presence including exclusive brand stores, multi-brand store expressions, and digital commerce platforms, the company said.

ASOS will have a premium positioning with an omnichannel focus to take on the likes of premium fashion retail brands including Zara and H&M in the Indian market, the company shared further.

Currently, RRL & its subsidiary has over 50 brands in the premium, luxury, and ultra-luxury segments. Emphasizing on adding more such brands in the above premium segment, Isha Ambani, Director, Reliance Retail Ventures Limited, said, “We aim to bring global fashion trends to India.”

Sharing about the expansion, the company said the strategy for the number of stores, and distribution channels for offline and online positioning of the brand are under discussion.

José Antonio Ramos, CEO, 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 Retail and other subsidiaries and affiliates, presently operate an integrated omni-channel network of over 18,836 stores.

RRVL reported a consolidated turnover of Rs 3,06,786 crore ($ 37 billion) and net profit of Rs 11,101 crore ($ 1.3 billion) for the year ended March 31, 2024.

  • Published On May 16, 2024 at 04:33 PM IST

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