BENGALURU (Reuters) – Reliance Retail said on Tuesday it was partnering with Israeli innerwear maker Delta Galil, marking the latest push by billionaire Mukesh Ambani’s retail business into India’s fast-growing apparel market.
The 50-50 joint venture will help deepen Delta Galil’s reach in India through retail, wholesale and digital channels, and also manufacture products for Reliance’s own established brands, the companies said in an exchange filing.
Reliance Retail and Delta Galil, which also has licensing partnerships with brands including Calvin Klein, Tommy Hilfiger and Adidas, did not disclose any financial details.
Reliance recently said it plans to double the retail business, already India’s largest, in the next three to four years.
The partnership is the latest in a string of deals by Reliance Retail, which has brought international brands such as American jewellery maker Tiffany & Co and British online retailer ASOS to India.
Last year it bought the UK casual fashion apparel retailer Superdry’s operations in three Asian countries. The Economic Times has reported Reliance Retail plans to launch its own sportswear brand to compete with French retailer Decathlon and launch Chinese fast fashion label Shein in India.
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Savio D’Souza)
