“Talks between the two parties have been on for a while now,” a source said. “However, an agreement is yet to be reached.”
Reliance Retail is in negotiations with British online fast-fashion retailer Asos Plc to felicitate the entry of the UK brand to India.
“Talks between the two parties have been on for a while now,” a source said. “However, an agreement is yet to be reached.”
If the agreement culminates, Asos will join a league of global brands to partner for India with Reliance Retail, the country’s largest retailer by sales and stores.
“As a policy, we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis,” a Reliance Retail spokesperson stated in an email response. “We have made and will continue to make necessary disclosures in compliance with our obligations under the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 and our agreements with the stock exchanges.”
Reliance Retail is aiming to sell Asos products through Ajio.com and offline through its Centro department store chain. Reliance Retail could also launch Asos-branded standalone stores in India. “Reliance will sell Asos products on Ajio and in stores but may or may not have a dedicated Asos India e-commerce site,” he said.
The source added that Asos has been sourcing out of India for years and the Reliance Retail partnership will promote their sourcing.
Asos—short for As Seen On Screen—has post-COVID been struggling with low business amid massive competition and an unsold pile of inventory. India could be a great market for the UK brand to build a market here, especially with a partner like Reliance Retail, analysts said. In its home market in UK, Asos competes with giant retailers like Marks & Spencer, Zara, H&M and Primark and also with online retail kings like Boohoo.com, Shein and Temu.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Mukesh Ambani, Isha Ambani plan to bring this popular fashion brand to India")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}