Reliance Retail & Clarks Split After 2 Years
Sources reveal that disagreements over the terms of the partnership led to the decision to end the joint venture
According to an industry report, the two-year-old joint venture between British shoemaker Clarks and Reliance Retail, the retail division of Reliance Industries, has ended. Sources reveal that disagreements over the terms of the partnership led to the decision to split.
More than thirty unique Clarks-branded stores were run by the joint venture Clarks Reliance Footwear in New Delhi, Mumbai, Bengaluru, Lucknow, Hyderabad, and Chennai. The insider further stated that these stores are currently closing due to the breakup of the agreement.
In the past, Clarks entered the Indian market through a 50:50 joint venture with Kishore Biyani's Future Group. As a result of Future Group's financial troubles, this partnership—known as Clarks Future Footwear—was finally terminated.
Additionally, Reliance Brands (RBL), a division of Reliance Retail that oversees several international brands in India, and Clarks partnered. RBL was founded in 2007 to introduce and grow international brands in the luxury-to-premium fashion and lifestyle sectors.
Renowned international brands including Armani Exchange, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Versace, Villeroy & Boch, and West Elm are among the collaborations that RBL has in its portfolio.
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