Saks Fifth Avenue launches in India with Reliance Retail

US based luxury department store chain Saks Fifth Avenue has launched in the Indian market in partnership with retail giant Reliance Retail as the business continues to bolster its premium retail portfolio. Reliance Retail will roll out Saks Fifth Avenue‘s operations in the country as part of a franchise agreement. 

“So to address the super luxury segment in India, we entered into a franchise for India with Saks Fifth Avenue, which is a global luxury retailer,” said Reliance Retail’s chief financial officer Dinesh Taluja, Indian Retailer Bureau reported. The business also announced in its most recent earnings statement that its “premium brands business entered into India franchise arrangement for Saks Fifth Avenue.”

Saks Fifth Avenue was founded by entrepreneur Andrew Saks. Headquartered in New York, US, the department store chain opened its ‘Rockefeller Center’ location in 1924, according to its website. Today, the business counts a total of 41 department stores across North America and retails product categories including fashion, accessories, and beauty. 

Reliance Retail Ventures Limited has been expanding its premium brand offering through Reliance Brands Limited at a swift pace, bringing global brands to India and expanding their brick-and-mortar networks across the country. The business has also recently launched luxury brands Maje and Sandro in India with stores in Mumbai.