Mumbai: Reliance Brands, an arm of the diversified Reliance Industries conglomerate, on Tuesday said it has signed a long-term franchise agreement with Dutch lingerie maker Hunkemoller International BV.
Reliance Brands will be setting up independent standalone stores for Hunkemoller across major Indian cities starting January.
"We will start with three stores for Spring/Summer 2016, starting January and plan to open 20 stores over next four-five years," Reliance Brands president and chief executive Darshan Mehta told PTI.
"Together, Reliance Brands and Hunkemoller will create a pan-India network of stores with Hunkemoller brand across all retail channels," the company said in a statement.
This is the first time that the 130-year-old lingerie brand is entering the Indian market.
Reliance Brands' current portfolio of brand partnerships (franchise and joint ventures) include 16 international brands such as Diesel, Brooks Bros, Ermenegildo Zegna, Steve Madden and Superdry, among others.
"Lingerie is a supply constrained category where we are seeing growing demand. It has got redefined and upgraded itself from just necessity to fashion statement," Mr Mehta said.
The company is also considering the beauty segment to expand its portfolio, he added.
"Reliance has exceptional operational experience and their infrastructure has the ability to locate and build our branded footprint within the Indian market with speed and efficiency," Hunkemoller chief executive Philip Mountford said in the statement.
Apart from its strong markets in western Europe, Hunkemoller is expanding steadily in Russia and the Middle East, it added.
Hunkemoller has nearly 700 stores in 18 countries, of which 10 are run by professional franchises.
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