Mukesh Ambani's Reliance Industries is India's most valuable firm with a current market cap of Rs 18.20 lakh crore. The company is expanding its business in various sectors with new ventures and collaboration with other brands including foreign companies. Now, Reliance Retail has brought back the US outdoor footwear and apparel brand, Timberland. It now features on the catalogue of its fashion e-tail platform AJIO.
On Monday, in its earnings statement, Reliance Industries said: "AJIO has been strengthening its portfolio through new brand launches like ASOS, H&M, Timberland, to name a few". Reliance Brands, a step-down unit of Reliance Retail, had a distribution and licensee agreement with Timberland in 2009. Last month, Reliance Retail announced bringing Swedish fast fashion major H&M's products on its platform.
In 2015, Timberland had to close its retail stores across India due to stiff competition in the local market and conflict with a similar local brand Woodland. The Timberland Company, a subsidiary of US-based VF Corporation, and Woodland, which also has a tree logo, were engaged in litigation over intellectual property, as the two have identical logos and products.
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Moreover, Reliance Retail also announced to scale up the quick-commerce like other retailers and FMCG companies, which are witnessing fast growth from this hyperlocal delivery format. Reliance Retail continued its expansion and opened 464 new stores, taking the total store count to 18,946 with area under operation at 79.4 million sq. ft by the end of the September quarter.
Besides, Reliance Retail is further strengthening its position in the F&B portfolio, with the addition of Armani Cafe, based on the finest Italian fine dining concept, in Mumbai's Jio World Plaza. "Premium Brands business launched its first Armani Cafe to further strengthen its F&B portfolio," it said. Reliance already operates 18 stores of Pret A Manger, the UK-based popular freshly made food and organic coffee chain.
(With inputs from PTI)
