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Asos Looks to Expand Its Presence in India with Reliance Retail Collaboration


Asos Looks to Expand Its Presence in India with Reliance Retail Collaboration

Information indicates that Asos is currently engaging in discussions with Reliance Retail, a prominent retail enterprise in India, to introduce the renowned British fashion label to the Indian marketplace.

Sources suggest that talks between the two entities have been in progress for some time, although a definitive agreement has yet to be finalized, as stated by India Retailing.

It is expected that India’s largest retailing company will present Asos merchandise in its chain of department stores, Centro, along with featuring them online on the fashion and lifestyle platform Ajio, according to a reliable source.

Additionally, there are murmurs that, should the collaboration move ahead, Reliance Retail might evaluate establishing dedicated Asos outlets in India.

As per one informant, “Reliance is likely to exhibit Asos items on Ajio and within their outlets, although the creation of a distinct Asos e-commerce portal for India remains uncertain.”

Through the partnership with Reliance Retail, Asos seeks to bolster its procurement capabilities, despite having been procuring goods from India for multiple years, as noted by Retail Week.

A spokesperson from Reliance Retail commented, “We maintain a stance of refraining from addressing media speculations and hearsay as a standard practice. Our corporation consistently reviews diverse prospects.

“We are dedicated to fulfilling essential disclosures according to the directives outlined by the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 and our commitments with the stock exchanges.”

In the previous November, Asos disclosed a substantial nearly-£300m annual loss and predicted a sales dip ranging from 5% to 15% for the present fiscal year, citing it to the ongoing clearance of past inventory.

Image Source: Casimiro PT / Shutterstock

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