SMCP, which owns Sandro, Maje, Claudie Pierlot and Fursac, has expanded its reach to India in partnership with retail conglomerate Reliance Brands, betting on the country’s growing luxury market.
Reliance Brands will be the exclusive distributor of Sandro and Maje in the country. The two brands’ first stores are scheduled to open their doors to the public at Jio World Plaza next year. The brands will join Reliance Brands’ portfolio of more than 90 brands, including Bottega Veneta, Tiffany & Co, Balenciaga and Armani.
According to WWD, the French group aims to open an average of three new stores annually over the next two years, reaching 10 locations in the country by 2027. It currently has a network of more than 1600 stores across 47 countries.
Euromonitor International estimates India’s luxury market to generate US$8.5 billion this year, making it one of the fastest-growing markets in the world.
The distribution deal comes after Reliance Brands acquired the majority stake in Superdy’s intellectual property assets for the India, Sri Lanka and Bangladesh markets via a licensing joint venture.
