After Bird Group terminated its retail agreement with Bally, it seems like the Swiss luxury leather goods maker may opt for Relaince Brands to retail its products. Informing about the news, Ankur Bhatia, Executive Director, Bird group said that for most retailers, the rentals are extremely high. It was not making sense commercially. Even if group triples its sales, which seemed unlikely considering the footfalls in a mall like Emporio (in New Delhi), it could not have minted money.
However, people close to the story revealed that Bally is in advanced talks with Reliance Brands and it is hoping to pull out a fruitful deal. But Relaince Brands CEO Darshan Mehta has declined to comment anything on the development.
Since its inception in 1851 in Switzerland, Bally & Co. excels in making high quality men’s designer shoes, luxury bags and accessories. The company has been going through a lull phase recently, its sales have declined and its business has gone for a big toss. Once touted as one of Europe's biggest shoemakers, Bally’s recent picture has gone bit blur.
Bhatia said Bird Group is in talks with luxury and bridge-to-luxury brands looking to enter India for the group's new property, Dusit D2, which will have 15,000 sqft of retail space and a theatre. Besides retail, Bird Group has interests in travel technology, aviation services and hospitality. Bird Hospitality has tied up with Thailand's Dusit Thani Group to bring their Dusit brand to India.