Reliance Brands is all set to launch the first Tiffany store in India by January 2020. Darshan Mehta, president & CEO, Reliance Brands, said: “We will launch the first Tiffany store in January 2020 at the Chanakya mall, New Delhi.”
The company is also planning to open its second store in Mumbai by the second half of 2020.
Reliance Brands (RBL), which is part of the conglomerate Reliance Industries, signed a deal with Tiffany & Co to open a line of stores in the country in August this year. Tiffany is a New York-based luxury jewellery brand founded in 1837.
The company manufactures and market jewellery, watches and luxury accessories. Tiffany operates more than 320 stores in more than 25 countries with over 80 in Asia-Pacific region. Speaking about the economic slowdown and its effect on expansion plans, Mehta said: “We do not measure the market on quarter-on-quarter basis and put stores on hold if there is a overall slowdown; we look at long-term plans.”
“Our White Crow stores in Chandigarh and Hyderabad are under construction and we are looking to open two more such stores,” Mehta said on the sidelines of India Retail Forum 2019. White Crow is a premium fashion and lifestyle retail store by RBL launched in Ahmedabad earlier this year. The store possesses collection of premium brands such as Steve Madden, Armani Exchange, among others.
In May 2019, RBL marked its first international foray by acquiring the British toy retailer, Hamleys. Globally, Hamleys has 170 stores across 18 countries.
Speaking about the festive season and expectation from it, Mehta said that festive season does not impact fashion industry as it mostly has an impact on sales of large-ticket items such as cars.