 "Reliance Brands inks pact with America's Brooks Brothers")
New Delhi: Reliance Brands, a unit of Reliance Industries, today announced a joint venture with America’s clothing retailer Brooks Brothers to set up the latter’s shops in India.
Through the new joint venture, in which Reliance Brands holds 49 percent stake, Brooks Brothers’ products will be available in major cities across India through exclusive mono-brand stores which will carry the entire range of menswear and women’s wear including clothing, sportswear, and accessories.
“We will be looking at opening five stores over the next three seasons, starting with Fall-Winter 2012 running through Fall-Winter 2013,” Reliance Brands said. The company is targeting Mumbai, New Delhi, Bangalore, Chennai and Chandigarh. “However, at the same time we have a parallel focus on Hyderabad and Kolkata which are important cities for us as well,” it said.
[caption id=“attachment_331864” align=“alignleft” width=“380” caption=“The company is targeting Mumbai, New Delhi, Bangalore, Chennai and Chandigarh.”]
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Brooks Brothers, America’s oldest clothing retailer, introduced the first ready-to-wear suits in 1845. Its flagship store is at Madison Avenue, New York City, a location it has held for almost a hundred years.
Commenting on the development Reliance Brands President and CEO Darshan Mehta said: “By all accounts, Brooks Brothers is an immensely distinguished heritage brand that is forever woven into the history of American clothing.”
As of 2011, Brooks Brothers is available at 210 locations in the United States and 200 in other countries, including Japan, China, Taiwan, Singapore, France, the United Kingdom, Chile, Canada, Italy, Mexico, and Greece.
Reliance Brands’ current portfolio includes labels like Diesel, Ermenegildo Zegna, Hamleys, Kenneth Cole, Paul & Shark, Quicksilver, Roxy, Steve Madden, Thomas Pink,
Timberland and over 25 brands that comprise the Iconix Brand Group, Inc.
PTI