Tiffany & Co. is expanding its focus on Asia by entering a new market.
Tiffany & Co. and Reliance Brands Limited announced plans to enter the India market. Through a joint venture, Tiffany plans to open new stores in Delhi later this yearand Mumbai in 2020.Reliance, one of India’s leading fashion and retail groups, has entered into partnerships with such other global luxury players as Burberry and Armani Group.
“As a global luxury jeweler with stores in many of the world’s most important cities, Tiffany’s emergence in these Indian commerce centers with their growing luxury consumer base presents a unique opportunity,” said Philippe Galtié, executive VP of global sales, Tiffany & Co.
Added Darshan Mehta, president and CEO of Reliance Brands: “Tiffany needs no introduction in India — it is iconic and timeless. We look forward to bringing Tiffany’s renowned jewelry collections and superlative diamonds to India.”
Tiffany operates more than 320 stores in more than 25 countries with over 80 in Asia-Pacific, as well as e-commerce websites in 14 markets.