Reliance Retail and British shoemaker Clarks end 2-year joint venture

Reliance Retail, the retail arm of Reliance Industries, and British shoemaker Clarks have ended their two-year-old joint venture, as reported by Business Standard. The decision to part ways was driven by differences over certain terms of the partnership, sources informed BS.

The joint venture, Clarks Reliance Footwear, operated more than 30 exclusive Clarks-branded stores across New Delhi, Mumbai, Bengaluru, Lucknow, Hyderabad, and Chennai. With the dissolution of the partnership, these stores are now being closed, the source added.

Previously, Clarks had partnered with Kishore Biyani's Future Group, entering the Indian market through a 50:50 joint venture. This collaboration, known as Clarks Future Footwear, was eventually dissolved when Future Group encountered financial difficulties.

Clarks also formed a partnership with Reliance Brands (RBL), a subsidiary of Reliance Retail, which manages various foreign brands in India. Established in 2007, RBL focuses on launching and developing global brands in the luxury-to-premium segments across fashion and lifestyle.

RBL's portfolio includes partnerships with renowned global brands such as Armani Exchange, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Versace, Villeroy & Boch, and West Elm.