Asos plans India expansion with Reliance Retail partnership
However, another source revealed that the group could launch standalone Asos stores in India if the deal goes through
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Asos is said to be in talks with Indian retail company Reliance Retail to bring the British brand to the Indian market, according to Retail Week.
Reports have indicated that although an agreement has not yet been reached, conversations between the two parties have “been on for a while”.
It is thought Reliance Retail will offer Asos merchandise both offline through its Centro department store chain and online through fashion retailer Ajio.
However, another source revealed that the group could launch standalone Asos stores in India if the deal goes through.
The source said: “Reliance will definitely sell Asos products on Ajio and in stores, but may or may not have a dedicated Asos India e-commerce site.”
Retail Week stated that Asos’s partnership with Reliance Retail is expected to increase its sourcing in the future, despite the brand having sourced out of India for many years.
A Reliance Retail spokesperson told the outlet: “As a policy, we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis.
“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.”
