Retail News Update

Reliance Brands Pvt. Ltd. is in the process of signing up a JV with Italy’s Sixty Group. This will enable the Reliance Company to bring in their brands including Miss Sixty, Energie, Killah and Murphy&Nye. The $900 mil Sixty Group is one of Italy’s fashion trend-setters present in over 100 countries and with many Hollywood clients. The JV will be under the permissible single brand FDI guideline which will enable 51% of the JV to be controlled by the Italian Company. The JV will rollout 56 individual, up-market brand stores in the first three years. Reliance Brands was set up recently by the Reliance Group with Arvind Brands honcho, Darshan Mehta as head to bring in international brands.