New Delhi: French company SMCP which owns fashion brands like Sandro, Maje, Claudie Pierlot and Fursac is foraying into India in partnership with Reliance Brands. Under the terms of the deal, Reliance Brands will become the exclusive distributor for Sandro and Maje in the market. The two brands will open their first stores in the country in 2024.
A young working population and rising disposable incomes are nudging global brands to look at India and build a growth strategy for the market. SMCP positions its brand portfolio as accessible luxury brands. The Group operates more than 1,600 stores globally and is present in 47 markets.
Recent estimates by analysts suggested that India’s consumer market has the potential to become the world’s third-largest by 2027, helped by rising disposable incomes. Several premium and luxury global consumer brands ranging from fashion to coffee like Brioni and Tim Hortons have entered the country in recent years.
A subsidiary of Reliance Retail Ventures, Reliance Brands has forged exclusive partnerships with an array of premium to luxury lifestyle brands including Versace, Bottega Veneta and Balenciaga. Its portfolio currently includes more than 90 brands.