Reliance Brands Ltd (RBL) on Monday said it has entered into a long-term franchise agreement with Tod's SpA to become the official retailer of the Italian luxury lifestyle brand for the Indian market.
As per the agreement, RBL is the official retailer of the brand across all categories, including footwear, handbags and accessories in the Indian market, said a joint statement.
Moreover, RBL would also take over the management of Tod's existing stores in India, which is present in the country since 2008 with mono-brand stores in DLF Emporio, New Delhi and Palladium, Mumbai and multi-brand e-commerce platform Ajio Luxe.
"The management of existing channels will be taken over by RBL and the focus will be on enhancing the brand's potential in the market and strengthening their digital presence," the statement said.
Commenting on the development RBL MD Darshan Mehta said Tod's has crafted a unique space for itself on 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," he said.
Tod's General Brand Manager Carlo Alberto Beretta said: "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".
RBL is a subsidiary of Reliance Retail Ventures Ltd, the retail arm of Reliance Industries Ltd (RIL). It started operations in 2007 with a mandate to launch and build global brands in luxury to premium segments across fashion and lifestyle.
In the past five years, RBL has also invested in building and operating homegrown Indian designer brands.
Listed on the Milan stock exchange, Tod's distribution network includes 318 DOS (directly operated stores) and 88 franchise stores around the world. It was founded as a small shoe factory in Casette D'Ete over a century ago.
All Tod's products are entirely made in Italy, a distinctiveness that has been kept throughout generations.