The Hindu Business Line : Reliance Brands ties up with Italian sportswear brand Paul&Shark

Bangalore, June 24 Reliance Brands has announced a 50:50 joint venture with Dama S.p.A. to launch the luxury Italian sportswear brand — Paul&Shark — in the country.

Paul&Shark and Reliance Brands will have an equal stake in the newly formed company ‘Reliance Paul&Shark Fashions Pvt Ltd’.

The joint venture is looking to open about 15 mono-brand stores in India over the next five years with the first store launching in Delhi or Mumbai.

Mr Andrea Dini, Owner & CEO, Paul&Shark, said, “While over the next years the Indian market will surely become one of the large new luxury markets of the world, the feature that makes India most appealing for the Paul&Shark brand is its ‘youthfulness’.”

Mr Darshan Mehta, President and CEO, Reliance Brands, said, “The Paul&Shark merchandise is contemporary in fashion and yet does not lose its focus on comfort and elegance. In Paul&Shark, the discerning Indian consumers will find fashion that mirrors their aspirational lifestyle.”

Paul&Shark is a luxury sports and leisure brand for men and women. Its merchandise is targeted at the consumer who is “sporty, well-off, travels for business or for pleasure, loves the weekend and relaxing outdoors”, according to a press release

More Stories on : Brands | Strategy | Alliances & Joint Ventures | Sports

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