Reliance Retail to introduce British online retailer Asos in India
05 March 2024, Mumbai
Reliance Retail is negotiating with Asos Plc, a British online fast-fashion retailer, to introduce the brand to India.
Initially, Reliance Retail intends to offer Asos products through Ajio.com and its Centro department store chain offline. Reliance Retail also plans to open standalone Asos-branded stores in India.
Asos, known as As Seen On Screen, has faced challenges post-pandemic due to fierce competition and an accumulation of unsold inventory. Analysts believe India could offer a promising market for the UK brand, particularly with a partner like Reliance Retail.
In the UK, Asos competes with traditional retailers such as Marks & Spencer, Zara, H&M, and Primark, as well as online peers like Boohoo.com, Shein, and Temu. Asos typically sells its own successful private brands alongside a range of global fashion labels.
Reliance Retail already offers a variety of global brands in India through joint ventures and franchise agreements, including Armani, Burberry, Balenciaga, Diesel, Gas, Jimmy Choo, Marks & Spencer, Steve Madden, and Gap.
During the pandemic, Asos experienced a surge in sales as shoppers gravitated towards its range of clothing items. However, recent business challenges have emerged for Asos, despite its acquisition of iconic Arcadia brands in 2021.
The potential collaboration with Reliance Retail could offer Asos a foothold in the Indian market and help revitalise its business trajectory.
