The shares of Reliance Industries Limited were trading at ₹2,931.75 up by ₹8.70 or 0.30 per cent on the NSE today at 9.55 am.
Reliance Retail Ventures Limited and Delta Galil Industries announced a strategic partnership in India yesterday. The 50/50 joint venture aims to establish an apparel innovation platform focused on the Indian market, particularly in intimate apparel and activewear categories.
Delta Galil, a global manufacturer of branded and private label apparel, will expand its presence in India through this collaboration.
The company plans to offer its portfolio of intimate apparel and activewear brands across retail, wholesale, and digital channels. Additionally, Delta Galil will support the joint venture in designing and manufacturing products for Reliance’s established brands.
Reliance Retail, India’s largest retail company, will contribute its extensive domestic sales and distribution network to the partnership. The joint venture intends to launch Delta family lifestyle stores and the Athena brand for men’s and ladies’ intimates over the next 18 months.
V Subramaniam, Managing Director of Reliance Retail Ventures Limited said, “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.”
Delta Galil’s CEO, Isaac Dabah said, “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.”