A subsidiary of Reliance Industries, Reliance Brands has signed a deal to re-launch the renowned jewelry brand Tiffany & CO. in India. As per learned sources the brand will be launched at Mumbai’s Jio World Centre mall, to be opened next year.
Tiffany & Co. is known for its innovative jewelry designs and exceptional craftsmenship. It is mainly known for its diamond and sterling silver jewelry. The brand has tried entering into Indian market years ago through a franchising arrangement with local jewelers. The store which was opened at Oberoi Hotel, Mumbai was soon closed, due to insufficient response from Indian buyers.
According to well informed people, Reliance Brands will also bring Tony Burch- American Lifestyle Brand to India. Tony Burch was launched in 2004 now has a wide collection of Ready-To-Wear, Shoes, Handbags, Accessories, Watches, Home and Beauty. The fashion line carries over 3,000 departments and specialty stores worldwide and now it is entering into India with Reliance.
The big question is, will these brands sustain the Indian markets?