Reliance Retail, a subsidiary of multinational conglomerate Reliance Industries Limited (RIL), is in discussions with British online fashion retailer ASOS to facilitate the brand's entry into the Indian market.
The proposed collaboration would involve selling Asos products on Reliance's e-commerce platform, Ajio.com, and via its Centro department stores, BNN Breaking has reported.
The two parties are also planning to establish Asos-branded standalone stores across India.
IndiaRetailing.com quoted a Reliance Retail spokesperson as saying: “As a policy, we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis.
“We have made and will continue to make necessary disclosures in compliance with our obligations under the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 and our agreements with the stock exchanges.”
The potential agreement could see Asos join international brands including Shein and Marks & Spencer that have partnered with Reliance Retail in India.
The Economic Times recently reported that RIL is in preliminary discussions with British fashion retailer Primark to launch the brand in the Indian market.
7-Eleven, another Reliance Retail partner in India, is also set to expand its footprint in the country.
The Financial Express reported that the convenience store chain aims to open 100 stores and extend its reach to additional Indian cities.
7-Eleven has already opened its 50th Indian store at the World Trade Centre in Kharadi, Pune.
A spokesperson for 7-Eleven India stated “The 50th store… marks an important milestone in 7-Eleven India’s journey towards becoming the most preferred brand for convenience needs of the customers. By offering a wide product range covering daily essentials to fresh food offerings such as pizzas, burgers, sandwiches, coffee and more, the brand has caught the imagination of young India.”
7-Eleven is one of the largest convenience store chains in the world, with a network of 85,000 stores in 20 countries.
