Reliance Retail to bring Gap to India under long-term franchise agreement

Reliance Retail to bring Gap to India under long-term franchise agreement

Mumbai, July 6, 2022

Reliance Retail Limited, India’s largest retailer, today said it had entered a long-term partnership with Gap Inc. to bring the iconic American fashion brand Gap to India.

Through the long-term franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India, a press release from the company said.

"Reliance Retail will introduce Gap’s latest fashion offerings to Indian consumers through a mix of exclusive brand stores, multi-brand store expressions and digital commerce platforms," it said.

The release said the partnership is aimed at leveraging Gap’s position as a leading casual lifestyle brand, and Reliance Retail’s established competencies in operating robust omni-channel retail networks and scaling local manufacturing and driving sourcing efficiencies.

Founded in San Francisco in 1969, Gap continues to build on its heritage grounded in denim and connect with customers online and in company-operated and franchise retail locations globally.

"With a strong vision of doing more than selling clothes, Gap shapes culture, championing a uniquely radical and optimistic sense of American style by bridging the gap between individuals, generations, and cultures. Reliance Retail brings Gap’s shopping experience to customers in India, offering the brand’s youthful, optimistic fashion for men, women, and kids," the release said.

“At Reliance Retail, we pride ourselves in bringing the latest and best to our customers and we are happy to announce the addition of iconic American brand, Gap to our fashion and lifestyle portfolio. We believe that Reliance and Gap complement each other in their vision to bring industry leading fashion products and retail experiences to their consumers,” said Akhilesh Prasad, CEO, Fashion & Lifestyle, Reliance Retail Ltd.

“We look forward to growing the Gap business across key international markets,” said Adrienne Gernand, Managing Director of International, Global Licensing and Wholesale at Gap Inc. “Partnering with regional experts, like Reliance Retail in India, allows us to deliver our relevant, purpose-driven brand to customers around the globe, while continuing to diversify our business portfolio through our partner-based model.”

Reliance Retail Limited is a subsidiary of Reliance Retail Ventures Ltd, the holding company of all the retail companies under the RIL group. RRVL reported a consolidated turnover of Rs 199,704 crore ($ 26.3 billion) and net profit of Rs 7,055 crore ($ 931 million) for the year ended March 31, 2022.

Reliance Retail has been listed amongst the fastest growing retailers in the world in Deloitte's Global Powers of Retailing 2022 index. It is ranked 56th in the list of Top Global Retailers and is the only Indian Retailer to be featured in the Top 100.

Gap Inc., a collection of purpose-led lifestyle brands, is the largest American specialty apparel company offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Fiscal year 2021 net sales were $16.7 billion.

NNN

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