Reliance Brands To Open Tiffany Stores In India
Tiffany & Co. will soon make its way into the Indian market through a joint venture with Reliance Brands Ltd.
American luxury jewellery retailer Tiffany & Co. will soon make its way into the Indian market through a joint venture with Reliance Brands Ltd.
The 182-year-old premium jewellery chain store plans to expand operations in Delhi and Mumbai, according to a statement.
Tiffany, which is already present in 25 countries, said in the statement it plans to open stores in Delhi by the year-end, and in Mumbai by next year in partnership with the Mukesh Ambani-owned company.
Tiffany’s emergence in Indian commerce centres with their growing luxury consumer base presenting a unique opportunity, the jewellery retailer’s Executive Vice President of global sales Philippe Galtié was quoted as saying in the statement.
Ambani has been expanding his presence in the consumer business. Reliance Brands in May acquired British toy retailer Hamleys for £67.96 million (about Rs 620 crore) in an all-cash deal.