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Reliance Industries (RIL) to Bring Tiffany & Company to India

Commenting on the partnership, Tiffany's Executive Vice President of Sales, Philippe Galtie, said: "As a global luxury jeweller with stores in many of the world's most important cities

Mukesh Ambani-led Reliance Industries (RIL) is set to bring Tiffany & Company to India, as RIL-arm Reliance Brands and Tiffany have announced a joint venture to open stores of the US-based luxury jeweller in the country.

Tiffany in a statement said that it wants to open stores in Delhi in the second half of the financial year 2019-20, and in Mumbai during the second half of the next fiscal.

Commenting on the partnership, Tiffany’s Executive Vice President of Sales, Philippe Galtie, said: “As a global luxury jeweller with stores in many of the world’s most important cities, Tiffany’s emergence in the Indian commerce centers with their growing luxury consumer presents a unique opportunity.”

Tiffany & Co, which was founded in 1837 by Charles Lewis Tiffany in New York City, has over 320 stores in more than 25 countries across the world.

Reliance, Industries, Tiffany
Mukesh Ambani-led Reliance Industries (RIL) is set to bring Tiffany & Company to India, as RIL-arm Reliance Brands and Tiffany have announced a joint venture to open stores . Pixabay

Darshan Mehta, President and CEO of Reliance Brands, said: “Tiffany needs no introduction in India, it is iconic and timeless. We look forward to bringing Tiffany’s renowned jewellery collections and superlative collections to India.”

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The tie-up comes as another major development for the company after Reliance Brands acquired the iconic British toy retailer Hamleys in July for a cash consideration of 67.96 million pound sterling. (IANS)

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