American luxury jeweller Tiffany & Co. announced plans to enter the India market this year through a joint venture with Reliance Brands Ltd. (RBL). Tiffany aims to open new stores in Delhi in the second half of 2019 and Mumbai in the second half of 2020, capitalising on its already strong image and brand awareness in this emerging and style-conscious luxury market.
“As a global luxury jeweller with stores in many of the world’s most important cities, Tiffany’s emergence in these Indian commerce centres with their growing luxury consumer base presents a unique opportunity,” said Philippe Galtié, executive vice president of global sales, Tiffany & Co. “We are proud to work with India’s leader in luxury retail, RBL, to develop a meaningful presence and further expand our brand equity in this important market.”
Tiffany operates more than 320 stores in more than 25 countries with over 80 in Asia-Pacific, as well as e-commerce websites in 14 markets.
“Tiffany needs no introduction in India – it is iconic and timeless,” said Darshan Mehta, president & CEO of Reliance Brands. “We look forward to bringing Tiffany’s renowned jewellery collections and superlative diamonds to India.”
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