On Thursday, SMCP, the fashion conglomerate that owns renowned French fashion brands Sandro and Maje, announced a partnership with Reliance to venture into the Indian market. As part of this expansion, SMCP will be among the prestigious European brands setting up stores in the Jio World Plaza mall located in Mumbai.
“There aren’t a lot of accessible luxury fashion labels in India so we think it’s time to be pioneering,” said SMCP CEO Isabelle Guichot, citing India’s wealth and growing population of younger generations among reasons for entering the country.
Having conducted extensive tests in the Indian market through outlets in luxury hotels for several years, upscale European brands are now aiming to broaden their retail footprint in response to the country’s robust economic growth and the rapid increase in the number of local millionaires.
The financial details of the collaboration between SMCP and Reliance Brands were not revealed by SMCP. However, it was disclosed that Reliance Brands would serve as the exclusive distributor of Sandro and Maje in India. According to Guichot, Reliance aims to inaugurate approximately 10 stores featuring SMCP brands within the next three to five years. The initial store is set to open in the Mumbai mall developed by Indian tycoon Mukesh Ambani.
Reliance Brands, a subsidiary of Ambani’s Reliance Retail Ventures, has established partnership agreements with numerous upscale European and American brands, such as Bottega Veneta, Burberry, Valentino, and Tiffany.