Reliance Retail
Reliance Retail on Tuesday announced a joint venture with Israel-based branded and private label innerwear maker Delta Galil Industries. Reliance Retail hopes that this partnership will strengthen its position in the apparel market. A joint statement said that both will have a 50:50 percent stake in this partnership with Delta Galil, which makes apparel for women, men and children.
The company will design products for Reliance
Under this partnership, Delta Galil will design and manufacture products for Reliance’s brand. The joint venture will also launch Delta Family Lifestyle Store and Athena brand for men’s and women’s innerwear in the next 18 months. The company said, “Delta Galil, known for its innovation and product excellence, will leverage this venture to expand its presence in the fast-growing Indian market.” Reliance Retail Managing Director V Subramaniam said, “Together we are ready to enhance the offering for consumers on our retail platforms. “
Revenue was Rs 3 lakh crore
Delta Galil Chief Executive Officer (CEO) Isaac Dabah said, “The joint venture will help Reliance Retail leverage Delta Galil’s deep industry expertise and innovation capabilities in intimate apparel and activewear.” Reliance Retail recorded a revenue of Rs 3 lakh crore in the financial year 2023-24. Reliance Retail recently ended a 2-year-old joint venture with British footwear company Clarks.
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