Reliance Retail, a subsidiary of Indian retail corporation Reliance Retail Ventures (RRVL), has signed a long-term franchise agreement with US-based fashion brand Gap.
Under the terms of the agreement, Reliance Retail has become the official retailer for Gap across all channels in India.
Go deeper with GlobalData
The company will offer Gap’s latest fashion lines through exclusive brand stores, multi-brand store expressions and e-commerce platforms.
The partnership intends to combine Gap’s position in the casual lifestyle market with Reliance Retail’s capabilities in omnichannel retail networks.
It also aims to scale local manufacturing and drive sourcing efficiencies.
Reliance Retail Fashion & Lifestyle CEO Akhilesh Prasad said: “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.”
Founded in 1969, Gap distributes through company-operated stores and franchise stores and online channels worldwide.
The brand reported net sales of $16.7bn for the last fiscal year.
Last year, it ended ties with Indian fashion retailer Arvind Fashions and has since been seeking a partner in India.
Gap Global Licensing and Wholesale international managing director Adrienne Gernand said: “We look 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.”
In October last year, RRVL reached a master franchise agreement with US-based convenience store chain 7-Eleven.
Under the agreement, RRVL has begun opening 7-Eleven stores in India via its subsidiary, 7-India Convenience Retail.
