Reliance Brands Limited, a subsidiary of Reliance Retail Ventures, is entering into a partnership with British fashion designer Stella McCartney to bring the luxury brand to India.
Known for her use of animal-free materials, McCartney counts celebrities including Taylor Swift and Meghan Markle among its clients in the ethical luxury segment. The financials of the licensee agreement between the two companies were not disclosed but they will open standalone stores in the next six months and start online sales through the Ajio
Luxe platform, according to people familiar with the matter.
Reliance Brands said the collaboration brings McCartney’s cruelty-free values to Indian consumers through ready-to-wear and handcrafted vegan accessories and footwear.
“Stella McCartney is more than a fashion brand — she is a pioneer of a conscious luxury movement that challenges conventions and redefines the way the world experiences fashion. India’s growing base of environmentally aware, style-conscious consumers presents the perfect landscape for Stella’s mission to thrive,” said a Reliance Brands spokesperson.
As per a Bain & Co report, India’s overall luxury market is expected to reach $85-90 billion by 2030, propelled by an increase in ultra-high-net-worth individuals with net assets of $30 million or more, growing entrepreneurship, a strong middle class, greater penetration of ecommerce and demand from tier-2 and tier-3 cities. The premium and bridge-to-luxury fashion market in the country is currently valued at $7.86 billion.
Global luxury brands are bullish on the Indian market and are eager to enter and expand in the country, the report said.
Founded in 2001, the Stella McCartney label has 47 retail locations and distribution in more than 70 countries. The designer is the daughter of Beatles band member Paul McCartney and photographer and animal rights activist Linda McCartney. The company does not use leather, fur or exotic skins in their products. Globally, younger consumers in particular are more attuned to ethical considerations in fashion, making sustainability-oriented brands more viable than they were a decade ago.
“We are thrilled to be bringing our conscious luxury movement to India and developing stronger connections with like-minded changemakers who want to build a fashion industry that is kinder to Mother Earth and our fellow creatures,” said Stella McCartney’s spokesperson.
Reliance Brands, which runs more than 1,500 stores across fashion and accessories has partnered global fashion houses including Valentino, Bottega Veneta and Burberry. Within luxury retailing, it competes with Aditya Birla Group, which has stakes in Sabyasachi, Shantanu and Nikhil and Tasva, owns luxury platform of The Collective and has partnered Galeries Lafayette to bring the upmarket French department store chain to India.
