Reliance Brands, the luxury and premium retail division of Reliance Retail, is combining with its parent firm in advance of the latter’s planned offering.
The consolidation is a component of a larger strategy to increase efficiency in the retail industry, which has recently seen a number of points of sale combined at a period of low customer demand.
Founded in 2007, Reliance Brands will function as a distinct business unit inside Reliance Retail. In order to eliminate duplication and promote a leaner structure, the relocation would combine overlapping functions—such as property, operations, and back-end teams—under a single roof.
More than 85 international luxury and lifestyle brands, such as Burberry, Bottega Veneta, Tiffany & Co., and Pret A Manger, are partners of Reliance Brands.
It has significantly influenced Reliance Retail’s worldwide brand distribution and high-end fashion footprint in India.
Business heads have been reporting directly to the Reliance Retail board, and the company has not yet named a new president or CEO. The luxury division is being further integrated into the group’s senior leadership and decision-making structure, as seen by the new reporting structure.
