Tiffany & Co is looking to foray into the Indian market in partnership with Reliance Brands. With this launch, the Iconic American jeweller is targeting the world's second-biggest gold jewellery market.
Through a joint venture with billionaire Mukesh Ambani's Reliance Industries, Tiffany is eyeing to launch its first store in Delhi this year and one in Mumbai next year.
Philippe Galtié, executive vice president of global sales, Tiffany & Co, said, “As a global luxury jeweler with stores in many of the world’s most important cities, Tiffany’s emergence in these Indian commerce centers with their growing luxury consumer base presents a unique opportunity.”
“We are proud to work with India’s leader in luxury retail, RBL, to develop a meaningful presence and further expand our brand equity in this important market,” he added.
Tiffany is operating over 320 stores in more than 25 countries with 80+ in Asia-Pacific, as well as e-commerce websites in 14 markets.
Darshan Mehta, President & CEO, Reliance Brands, stated, “Tiffany needs no introduction in India, it is iconic and timeless. We look forward to bringing Tiffany’s renowned jewelry collections and superlative diamonds to India.”