Reliance Industries Set to Bring Iconic Tiffany Stores to India
Tiffany, popular for its engagement rings and robin's egg blue boxes, plans to open stores in New Delhi and Mumbai in the second half of fiscal years 2019 and 2020 respectively.
The logo of Tiffany & Co. is seen at a store at the Bahnhofstrasse shopping street in Zurich, Switzerland. (Reuters)
Bengaluru: Reliance Industries Ltd is partnering with iconic US-based luxury jeweller Tiffany & Co to open a line of stores in the country, adding yet another marquee name to its growing portfolio of brands.
Tiffany, popular for its engagement rings and robin's egg blue boxes, plans to open stores in New Delhi and Mumbai in the second half of fiscal years 2019 and 2020 respectively, the company said, adding that India's "growing luxury consumer base presents a unique opportunity".
The tie-up comes as Reliance, which is run by Asia's richest man Mukesh Ambani and runs a sprawling conglomerate, bolsters its consumer-focused units such as retail and telecoms to match the strength of its dominant oil and gas business. The company bought British toy retailer Hamleys earlier this year.
For Tiffany, known for its diamond engagement rings and a flagship Manhattan store made famous by Audrey Hepburn, the deal represents its latest effort to expand globally as it battles subdued demand in the United States and Europe.
(Disclaimer: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited.)
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
|Power Grid Corp||207.05||-1.94|
Recommended For You
- Couldn't Have Dreamt the Blessings God Showered on Me: Kohli
- Suhana Khan's Brother Aryan Parties with Ananya Panday and Friends, See Pics
- Jio Effect: Hathway 100Mbps Plan Priced at Rs 699, Play Box Android TV Box Available at Rs 899
- Labuschagne Replaces Smith to Become First Like-for-like Substitution in Cricket
- Weekly Tech Recap: Realme 5 Series Launch, Reliance Jio Fiber, PUBG Mobile 0.14.0 Update and More