Home / Knowledge / News / Apparel/Garments / Reliance and Diesel sign joint venture agreement
Reliance and Diesel sign joint venture agreement
14
Oct '08
Reliance Brands, a part of Reliance Industries Limited, yesterday announced a joint venture with world famous Italian lifestyle brand Diesel. To introduce the Italy-based brand Diesel in India a 51:49 joint venture has been formed between Diesel International and Reliance Brands Limited, where Diesel holds 51 per cent stake.

This venture is aimed at combining the distribution strength of Reliance Brands and Diesel's experience famed for moving outside and ahead of trends in the fashion industry. Diesel will predominantly target avant-garde Indian consumers with a penchant for fashion and individualism. With a launch slated for SS '09 in Mumbai and Delhi, Diesel will also look at the fast upcoming markets like Bangalore, Hyderabad and Chandigarh.

Making the announcement, Renzo Rosso, President and founder of Diesel, said: “I have always admired Indians for their innate sense of fashion. Nowhere else in the world can one witness such a beautiful fusion of colours, traditional fabrics and patterns with western influences to create a style so distinctive.

We at Diesel identify with the manner in which the Indian market is deeply rooted in its heritage, yet it is also open to imbibing new ideas for a better lifestyle. In Reliance Brands we have found an ideal partner in size and management skills, but also a team of people with which we perfectly align on all strategic plans on how to develop in the Indian market.”

Speaking about the promising alliance, Darshan Mehta, President & CEO of Reliance Brands Limited, said: “It is a matter of great pride for Reliance Brands to present the iconic brand 'Diesel' to the Indian customers. This joint venture is truly one of the most important milestones for the company.

Diesel has always been a leader and never a follower; a brand that has always set the benchmark for creating trends. Mr. Rosso's belief in the Indian market is most encouraging. It is an exciting prospect to offer the complete gamut of offerings of the brand in India, including Diesel's cutting edge in-store experience.”

The announcement marks the onset of a new era in the market of luxury fashion in the country. Indian consumers will soon be able to live by the mantra 'Diesel For Successful Living'. The iconic brand is all set to shift paradigms with the introduction of the 'Diesel lifestyle' offering a vast selection of denims & other apparel, shoes, bags, intimates, eyewear and fragrances.

Reliance Industries Limited

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search