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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Delayed NSE India Stock Exchange  -  07:29 2022-10-06 am EDT
2422.10 INR   +0.37%
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10/04Reliance Industries : Media Release - Jio Announces the Launch of JIO TRUE 5G
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India's Reliance signs franchise deal with fashion house Balenciaga

08/04/2022 | 09:10am EDT
FILE PHOTO: People wearing face masks following the COVID-19 outbreak are seen at a store of French luxury brand Balenciaga inside a shopping mall in Beijing

MUMBAI (Reuters) - India's bigger retailer Reliance said on Thursday that had signed a long-term franchise deal with French fashion house Balenciaga, the latest in a flurry of deals the conglomerate has signed with high-end brands.

Reliance Brands Ltd (RBL), a unit of the conglomerate that also runs India's biggest retail chain, said in a statement it would be Balenciaga's sole partner in India.

"It's the most opportune time to introduce the brand to the country as the Indian luxury customer has matured and using fashion as a form of creative expression of their individuality" Darshan Mehta, managing director of RBL, said in the statement.

Reliance, run by one of India's richest men, Mukesh Ambani, has been on a dealmaking spree, signing franchise agreements with brands like Valentino, Gap and British coffee and sandwich chain Pret A Manager.

Targeting growth in luxury, Reliance is building a mall with dozens of outlets for powerhouse brands from Louis Vuitton to Guci, documents reviewed by Reuters showed in April.

(Reporting by Shilpa Jamkhandikar in Mumbai; Editing by Bernadette Baum)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHRISTIAN DIOR SE 0.08% 622.5 Real-time Quote.-14.79%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.35% 635.1 Real-time Quote.-12.34%
RELIANCE INDUSTRIES LTD 0.37% 2422.1 Delayed Quote.1.90%
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Financials
Sales 2023 9 093 B 111 B 111 B
Net income 2023 787 B 9 588 M 9 588 M
Net Debt 2023 1 374 B 16 742 M 16 742 M
P/E ratio 2023 20,8x
Yield 2023 0,41%
Capitalization 15 386 B 187 B 187 B
EV / Sales 2023 1,84x
EV / Sales 2024 1,76x
Nbr of Employees 342 982
Free-Float 50,4%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 32
Last Close Price 2 422,10 INR
Average target price 2 896,44 INR
Spread / Average Target 19,6%
EPS Revisions
Managers and Directors
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
Savithri Parekh Secretary & Compliance Officer
Adil Siraj Zainulbhai Independent Non-Executive Director
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