Reliance Retail to bring US fashion brand Gap to India; ink franchise agreement
New Delhi:
Reliance Retail Ltd on Wednesday announced its long-term partnership with Gap and plans to bring the iconic American fashion brand to India.
“Through the long-term franchise agreement, Reliance Retail has become Gap’s official retailer across all channels in India,” a joint statement said.
Reliance Retail will offer Gap to Indian consumers through a mix of exclusive brand stores, multi-brand store expressions and digital commerce platforms.
“The partnership aims to leverage Reliance Retail’s established competencies in operating Gap’s position as a leading casual lifestyle brand and strong omni-channel retail network, and driving local manufacturing and sourcing capability,” it said.
Established in San Francisco in 1969, Gap is regarded as an authority on modern American style. It continues to build on its legacy based on denim and connects with customers globally, both online and through company-run and franchise retail locations.
Akhilesh Prasad, CEO, Fashion & Lifestyle, Reliance Retail, said: “We believe that Reliance and Gap complement each other in bringing industry-leading fashion products and retail experiences to our consumers.”
Adrienne Gernand, Managing Director of International, Global Licensing & Wholesale at Gap Inc., said: “Partnering with regional experts such as Reliance Retail in India allows us to distribute our relevant, purpose-driven brands to customers around the world, while continuing to diversify our business portfolio through our partner-based model.”
Reliance Retail is a subsidiary of Reliance Retail Ventures Limited (RRVL), the holding company of all retail companies under the Reliance Industries Limited Group.
RRVL reported a consolidated business of Rs 1,99,704 crore ($26.3 billion) for the year ended March 31, 2022.
Gap Inc. products are available for purchase through Company-operated stores, franchise stores and e-commerce sites worldwide. Its net sales stood at $16.7 billion in FY21.