Tod’s S.p.A, Reliance Brands enter into multi-year franchise agreement

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New Delhi, May 9 | Reliance Brands Ltd (RBL) commenced a new journey with the icon of Italian luxury lifestyle Tod’s Spa and with this long-term franchise agreement, RBL has become the official retailer of the brand across all categories including footwear, handbags and accessories in the Indian market.

Tod’s has been operational in India since 2008 with mono brand stores in DLF Emporio, New Delhi, and Palladium, Mumbai and multi-brand ecommerce platform Ajio Luxe.

The management of existing channels will be taken over by Reliance Brands Ltd and the focus will be on enhancing the brand’s potential in the market and strengthening their digital presence.

“Reconciling excellent craftsmanship with a hunger to innovate for the new consumers, Tod’s has crafted a unique space for itself at the global luxury front. A name that conjures images of luxe leathers and soigne materials, we are thrilled to partner with the brand to uphold its core values of exceptional quality, craftsmanship and effortless elegance in the Indian market,” said Darshan Mehta, MD of Reliance Brands Ltd.

RBL’s current portfolio of brand partnerships comprise Armani Exchange, Bally, Bottega Veneta, Brooks Brothers, Burberry, Canali, Coach, Diesel, Dune, EA7, Emporio Armani, Ermenegildo Zegna, G-Star Raw, Gas, Giorgio Armani, Hamleys, Hugo Boss,among several others.

“We are very pleased to partner with the country’s leading luxury retailer as we believe that our common passion for quality and a modern and sophisticated lifestyle will allow us fully to express the potential of this important partnership,” said Carlo Alberto Beretta, Tod’s General Brand Manager.

In 2019, RBL marked its first international foray by acquiring the British toy retailer, Hamleys.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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