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Tiffany weds Ambani's Reliance to bring stores to India

Jeweler to open in Delhi and Mumbai as China business loses shine

NEW YORK -- American jewelry retailer Tiffany & Co. is linking up with Reliance Industries, the conglomerate run by Asia's richest man Mukesh Ambani, to charge into India, with an eye on the country's booming luxury scene.

Through a joint venture announced Wednesday, Tiffany and Reliance Brands -- the group's retail unit -- plan to open shops in Delhi as early as this year and Mumbai in 2020. Reliance Brands, whose partnership portfolio includes the likes of Burberry and Giorgio Armani, operates over 470 stores and 340 shop-in-shops in India.

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