Reliance Retail has entered into a franchise agreement with Gap Inc to bring the American fashion brand to India. Gap will return to India the second time after parting ways with Arvind Fashions in 2020. Reliance Retail will be the official retailer for the fashion house in India, mixing exclusive stores and digital commerce platforms. Gap first came to India in 2014 through a franchisee agreement with Arvind Fashions and exited six years later.
“The partnership is aimed at leveraging Gap’s position as a leading casual lifestyle brand, and Reliance Retail’s established competencies in operating robust omnichannel retail networks and scaling local manufacturing and driving sourcing efficiencies,” Reliance Retail said in a press release about the long-term agreement.
“At Reliance Retail, we pride ourselves in bringing the latest and best to our customers and we are happy to announce the addition of iconic American brand, Gap to our fashion and lifestyle portfolio. We believe that Reliance and Gap complement each other in their vision to bring industry-leading fashion products and retail experiences to their consumers,” said Akhilesh Prasad, CEO, fashion & lifestyle at Reliance Retail said in the release. Adrienne Gernand, managing director of international, global licensing and wholesale at Gap Inc, said that the company looked forward to growing the Gap business across key international markets.
“Partnering with regional experts, like Reliance Retail in India, allows us to deliver our relevant, purpose-driven brand to customers around the globe while continuing to diversify our business portfolio through our partner-based model,” said Gernand. Reliance Retail is a subsidiary of Reliance Retail Ventures (RRVL), which is the holding company of all retail companies under the Reliance group. RRVL reported a consolidated turnover of Rs 199,704 crore and a net profit of Rs 7,055 crore for FY22.