Reliance Retail signs licensing agreement to bring ASOS to India

17 May 2024 , 11:41 AM

Reliance Retail, India’s largest retailer, has signed a long-term licensing agreement with the UK’s leading online apparel retailer ASOS, bringing the brand to India. ASOS is a prominent fashion platform for people in their twenties.

According to a press release, Reliance Retail will be ASOS’s exclusive retail partner in India, covering both online and offline channels. The company plans to launch exclusive brand stores, sell through multi-brand stores, and use internet commerce platforms.

“With the help of its extensive experience of operating omni-channel retail networks, Reliance Retail will unveil ASOS’s tailored portfolio of fashion-led own-brand labels to the Indian market via a multi-channel presence for ASOS and an extended range of retail formats,” the business stated.

Isha Ambani, director of Reliance Retail Ventures Ltd, stated that this relationship underlines our position as India’s foremost shopping destination, ensuring that our customers have access to the cutting-edge fashion styles they love. Reliance Retail Ventures is the holding company for all retail enterprises operated under Reliance Industries Ltd.

ASOS CEO José Antonio Ramos stated, “We are excited to bring some of our fashion-led own-brands to customers in India, including ASOS Design, one of the largest British fashion brands.”

Reliance Retail Ventures, the holding company for all retail enterprises under Reliance Industries, reported a combined turnover of ₹3,06,786 crore ($37 billion) and a net profit of ₹11,101 crore ($1.3 billion) for the current financial year ending March 31, 2024.

At around 11.04 AM, Reliance Industries was trading 0.28% higher at ₹2,858.75 per piece, against the previous close of ₹2,850.70 on NSE. The counter touched an intraday high and low of ₹2,864.35, and ₹2,826.50, respectively.

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