Reliance Retail Ventures and Delta Galil Industries, the global manufacturer and marketer of branded and private label underwear, sportswear, loungewear and denim apparel for women, men and children, today announced a strategic 50/50 joint venture, the companies said in a press release.
The partnership aims to establish an apparel innovation platform focused on catering to the demands of Indian consumers. Delta Galil will use this venture to expand its footprint in the Indian market, by offering its portfolio of intimate apparel and sportswear brands across retail, wholesale and digital channels. Through the partnership, Delta Galil will also support the joint venture, which will design and manufacture products for Reliance’s own established brands.
V Subramaniam, managing director, Reliance Retail Ventures, said in the press release, “Delta Galil’s reputation as a global innovator in intimates and sportswear aligns perfectly with Reliance Retail’s commitment to delivering quality and innovative products to Indian consumers. Together, we are poised to enhance the consumer offering in the intimates and sportswear segments across our retail platforms.”
Through this joint venture, Reliance Retail will be able to tap into Delta Galil’s industry expertise and innovation capabilities in intimate apparel and sportswear, key product categories expected to witness tremendous growth in the Indian market, the release said.
Delta Galil CEO Isaac Dabah also said in the press release, “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 seek to tap into India’s dynamic consumer market, home to over 1.4 billion consumers.”
He added, “This partnership enables us to combine our product design, innovation and manufacturing capabilities with Reliance Retail’s extensive retail network and distribution reach, paving the way for accelerated growth of the intimates and activewear categories across the country. We look forward to beginning this journey with Reliance towards a first launch with Delta Family Lifestyle Stores and the Athena brand for men’s and women’s intimates in the next 18 months.”
First publication: Sep 10, 2024 | 7:37 PM IST