Reliance Retail ethnic handicrafts initiative, Swadesh, has launched the first partnership with l Falguni Shane Peacock. This collaboration expanded into a deeper strategic alliance aimed to enhance Swadesh’s ethnic handicrafts offerings.
“The collaboration will evolve into a deeper strategic partnership in the near future,” one of the executives said. The retail arm of Retail Industries plans to scale up ethnic handicrafts under Swadesh Brand with stores similar to the government-run Cottage Emporium stores, which will retail ethnic handicrafts, fusion clothing, jewellery and home decor, the executives said.
Reliance retail has close to dozen existing tie ups with luxury designers including Satya Paul, Ritu Kumar and Manish Malhotra. In the western lifestyle and fashion space, it has collaborations with global luxury designer labels including versace, balenciaga, Armani, Jimmy Choo, Gas and Hugo Boss.
The retail division of reliance industries last week announced revenue of Rs. 75,630 crore for the quarter ended June, an 8.1 per cent increase from Rs. 69,962 crore in the year ago quarter. Reliance Retail noted in its earnings that the business expanded its network by opening 331 stores during the quarter, taking the overall count to Rs. 18,918.
