Reliance Retail in discussion to partner UK's Fortnum
By siliconindia | Wednesday, 13 July 2022, 08:58:19 AM IST
Reliance Retail, the retail arm of Reliance Industries, is in talks with London-based luxury gourmet, gifting and hospitality retail chain Fortnum & Mason for an exclusive partnership for India, two executives directly aware of the development said. The British luxury department store chain is known for curated premium foods, wine and spirits, gifting and restaurants, and has a close association with the British royal family.
"Reliance Retail is in advanced talks with Fortnum & Mason to set up premium luxury stores in India under the Fortnum & Mason brand," one of the executives said. He said the group is exploring multiple options for India, which could include physical stores as well as an online presence in India.
A spokesperson for Reliance Retail said in an email revert that as a policy, the company does not comment on media speculation and rumours. "Our company evaluates various opportunities on an ongoing basis," the spokesperson said. A Fortnum & Mason spokesperson said: "At the moment there are no concrete plans in place. F&M is always looking at ways to expand opportunities for people in the region to have access to its brand and products, and they will continue to do so".
Fortnum & Mason is pushing growth in Asian markets post pandemic, having started its first online store in China last month. In 2019, the luxury chain set up its first fully-owned and operated shop and restaurant in Hong Kong, paving the way for a large-scale presence in Asia.
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