Reliance Retail and Delta Galil form 50/50 joint venture to revolutionise India's apparel market
The partnership will create an apparel innovation platform to cater to the specific needs of Indian consumers. Delta Galil, known for its innovation and high-quality products, plans to use this venture to expand its presence in India's fast-growing market, offering its popular intimate apparel and activewear brands through retail, wholesale, and online channels.
ANI
Sep 10, 2024 17:08 IST
Mumbai (Maharashtra) [India], September 10 (ANI): Reliance Retail Ventures Limited (RRVL) (Reliance Retail), has announced a 50/50 partnership with Delta Galil Industries, Ltd. (listed on the Tel Aviv Stock Exchange), a global leader in the manufacturing and marketing of branded and private label intimate, activewear, loungewear, and denim for men, women, and children.
According to RRVL, the partnership will create an apparel innovation platform to cater to the specific needs of Indian consumers. Delta Galil, known for its innovation and high-quality products, plans to use this venture to expand its presence in India's fast-growing market, offering its popular intimate apparel and activewear brands through retail, wholesale, and online channels.
Additionally, Delta Galil will contribute to the joint venture by designing and manufacturing products for Reliance's well-established brands.
Welcoming Delta Galil as a strategic partner, V Subramaniam, Managing Director of Reliance Retail Ventures Limited, highlighted the synergy between the two companies.
"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," he said.
Isaac Dabah, CEO of Delta Galil, emphasized the importance of the partnership, stating, "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. We look forward to embarking on this journey with Reliance to an initial launch with Delta family lifestyle stores and the Athena brand for men's and ladies' intimates, over the next 18 months," he added.
The joint venture will allow Reliance Retail to leverage Delta Galil's extensive industry knowledge and innovative capabilities, particularly in the rapidly growing intimate apparel and activewear sectors in India. (ANI)
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