Brooks Brothers enters India
Forms JV with Reliance Brands; targets malls in major metros in India.June 04, 2012 | comments ( 0 ) |
The retail arm of Reliance Industries, Reliance Brands, has joined hands with America’s oldest clothing brand Brooks Brothers, to bring the brand to India. Reliance Brands has been growing strong by adding international brands to its kitty, including the recent JV with Iconix Brand, Paul & Shark, Diesel and Ermenegildo Zegna.
Brooks Brothers is a privately owned brand by Italian billionaire Claudio Del Vecchio. In this JV, 51 per cent stake will be held by Brooks Brothers and the rest will be held by Reliance Brands.
According to Claudio Del Vecchio, Chairman & CEO of Brooks Brothers, Reliance Brands has been going strong with various international brands in India and are expert in operating these brands in India. The new tie up, to begin with, will open up stores in major metros, in malls that offer international labels.
Brooks' price range starts from Rs 5,000 for a shirt to Rs 60,000 for a suit and is positioned against brands like Thomas Pink in the affordable luxury wear. The brand, under its portfolio, also offers women and children wear, which will be introduced in later stages.
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