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Reliance Retail has entered into a long-term licensing agreement with British online fashion retailer Asos to sell its products in India through online and offline channels.
Asos, a fast-fashion brand that caters to young adults in their 20s, was founded in 2000 in London.
The Reliance Industry’s subsidiary, which has been tying up with global brands to bring them to India, will be the exclusive retailer of the clothes and cosmetics retailer in India. It said it would leverage its experience of operating omni-channel retail networks to introduce Asos’ curated portfolio of fashion-led own brand labels to the Indian market through a multi-channel presence and a diverse array of retail formats, including exclusive brand stores, multi-brand store expressions and digital commerce platforms.
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The agreement is Asos’ first country-wide exclusive retail partnership, it added. The UK retailer sells its products in over 200 markets through its app and the web.
In 2022 Reliance Retail had signed a similar long-term partnership agreement with Gap Inc to retail the American fashion brand’s clothes in India through multiple formats. The company has exclusive partnerships with several other global brands such as Superdry, Payless, Vision Express, Steve Madden, Balenciaga, Clarks and Coach.
In FY24, Reliance Retail Ventures reported a consolidated turnover of over ₹3 lakh crore and net profit of ₹11,100 crore.
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