Delta Galil: New Indian JV
Delta Galil and Reliance Retail Ventures Limited (RRVL) announced a 50/50 joint venture that “aims to redefine the apparel landscape in the Indian market.”
V Subramaniam, managing director of Reliance observed that “Delta Galil’s reputation as a global innovator in intimate apparel and activewear aligns seamlessly with Reliance Retail’s commitment to delivering quality and innovative products to Indian consumers. Together, we are poised to elevate the consumer offerings in the intimate apparel and activewear segments across our retail platforms.”
RRVL claims it is the largest and one of the fastest growing retailers in India, adding that it and “other subsidiaries and affiliates, operate an integrated omni-channel network of over 18,918 stores and digital commerce platforms offering consumer electronics, fashion and lifestyle” products, groceries and pharmaceuticals. For the year ended March 31, 2024, RRVL reported a profit of about $1.3 billion on sales of about $37 billion.
Isaac Dabah, the CEO of Delta Galil (which will report about $2 billion in sales this year), declared, “Reliance Retail is one of the fastest-growing retail companies in the world and we are extremely proud to partner with the company as we look to tap into India’s dynamic consumer market, home to more than 1.4 billion consumers. This collaboration will allow us to combine our product design, innovation and manufacturing prowess with Reliance Retail’s extensive retail network and distribution reach, paving the way for accelerated growth of the intimate apparel and activewear categories throughout the country.”
Above, the website for Reliance’s Cover Story, one of the many stores and brands in its porfolio.
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