Dress circle: Armani boss plans pit stop to knit RIL JV

MUMBAI: The Armani-Ambani partnership in Indian retail is close to being finalised. Global fashion and luxury guru, Georgio Armani, is understood to be planning his next visit to the country to tie up the final details.

Armani’s top team has frequently visited the country in the past to hold several rounds of talks with the Ambani group, sources said.

An RIL spokesperson declined to comment on the development. Sources say that Reliance will be the local franchisee for the Armani range to be sold through exclusive boutique-like outlets. In fact, Armani may be among the few international brands in Reliance Retail’s luxury brands strategy.

The talks focused on the marketing strategy and the products to be sold in India. Initially, only two of its most popular fashion lines; the flagship Giorgio Armani and the peppy Emporio Armani, targetting young professionals, will be launched in India.

Milan-based Armani is a billion-dollar plus global fashion empire straddling clothes, perfumes, watches and myriad accessories. Reliance‘s retail initiative proposes to tap consumers both at the top and bottom-end of the market spectrum.

While the company has been aggressively putting its back-end supply chain in place before the roll-out of its outlets next month, a separate team has been sent abroad to scout for partnerships with some top luxury brands across Europe, sources said.

The Armani Group is one of the leading fashion and luxury goods groups in the world with 4,800 direct employees and 13 factories. Former Titan COO Bijou Kurien is likely to lead Reliance’s luxury business. Sources say that Reliance is also in talks with another marquee name, Manolo Blahnik.

KSA-Technopak estimates the Indian luxury market at Rs 2,000 crore and growing. With its burgeoning HNI population, the India market for luxury goods is estimated at $452m in the coming years.