Reliance Brands To Scale Up Its Activities
Filed Under: Business | Posted: 09/12/2012 at 2:03AM
Comments | Region: India
Following the success it has been enjoying in the last six months i.e. between January and July 2012, Reliance Brands intends to scale up its activities and aim for a bigger share in the luxury market. The revenue it has monetized during the last six months is more than their expectations and estimation. The year has been action packed for the company right from its partnership with Iconix, New York based brand during February and Quicksilver, leading sportswear retailer in August, it has shown signs of getting bigger and better.
Darshan Mehta, CEO of Reliance Brands stated that the company has been thriving irrespective of the slowdown and the muted consumer sentiments, unlike many of its counterparts who have chosen to pull back their activities and some even opting to shut down. They have bolstered their growth to an extent that they need not extend their sale by even a day now.
Reliance Brands, a subsidiary of RIL, now intends to evolve and move forward by embarking on new collaborations with leading global players and leveraging its reach to smaller cities effectively. It has introduced Home Shopping as a means to tap this market ( smaller cities) where it has special personnel known as Champions employed to personally travel to consumer’s home with their merchandise, at these cities after taking appointments with them. The effectuation of these strategies will surely enable Reliance Group to seize a larger share of the luxury market.
Reliance Brands presently segment its luxury business in three different categories based on the price scale. The first one caters to a median price of Rs. 15,000 and above with products like Ermenegildo Zegna and Paul & Shark and the affordable luxury segment entails Diesel Jeans or Thomas Pink shirts with the average price of Rs.8,000 to Rs.10,000 and the high premium one has brands like Quicksilver and Timberland. This company led by Mukesh Ambani aims to attract Indian consumers with the penchant for international products considering the fact that this market has been growing tremendously owing to increasing exposure. It believes that its partnership with the global key players will serve as an impetus to the same.