Reliance Retail Ltd declared on 5 July that it has entered a partnership with the American fashion brand, Gap Inc. to bring the trendy clothing line to India in retail stores.
The partnership will be long-term through which Reliance would become the official retailer for Gap across multiple channels in India.
Reliance plans to roll out Gap's offerings to Indian customers in the form of exclusive brand stores, multi-brand stores, and e-commerce platforms.
Founded in San Francisco in 1969, Gap's heritage is rooted in denim. By going global, it plans to establish a connection between online customers and franchise retail stores across the world.
"We look forward to growing the Gap business across key international markets."Adrienne Gernand, Managing Director of International, Global Licensing and Wholesale, Gap Inc.
The partnership between Gap and Reliance Retail is intended to be a symbiotic one. With Reliance's record of being competent in successfully operating omni-channel retail networks, it would be able to scale up Gap's business locally in India and help them identify areas where they can improve sourcing efficiencies.
The financial terms of the partnership deal were not disclosed, as reported by Reuters.
This announcement comes at the heels of a previous declaration of a plan by Reliance to open Pret A Manger, a famous British sandwich and coffee chain, outlets in India. Reliance has also built partnerships with several other luxury brands such as Burberry.
Other brands such as Old Navy and Banana Republic are also included in Gap Inc. Moreover, this partnership with Reliance comes at a time when clothing retailers struggle due to weaker demands as inflation rises in the United States.
"This partnership is aimed at leveraging Gap's position as a leading casual lifestyle brand."Reliance Retail, Part of Mukesh Ambani's Conglomerate Reliance Industries.
(With inputs from Reuters and American Bazaar)