MUMBAI (Reuters) -- A unit of India's Reliance Group said on Thursday that it had sealed a long-term franchise deal with French fashion house Balenciaga, the latest in a flurry of agreements the conglomerate has signed with high-end brands.
Reliance Brands Ltd (RBL), an arm of the conglomerate that also runs India's biggest retail chain, said in a statement that it would be Balenciaga's sole partner in India.
"It's the most opportune time to introduce the brand to the country as the Indian luxury customer has matured and [is] using fashion as a form of creative expression of their individuality" Darshan Mehta, managing director of RBL, said in the statement.
Reliance, run by one of India's richest men, Mukesh Ambani, has been on a deal-making spree, signing franchise agreements with brands like Valentino, Gap and British coffee and sandwich chain Pret A Manager.
Targeting growth in luxury, Reliance is building a mall with dozens of outlets for powerhouse brands from Louis Vuitton to Gucci, documents reviewed by Reuters showed in April.