{"id":1465,"date":"2016-12-14T04:34:00","date_gmt":"2016-12-14T04:34:00","guid":{"rendered":"https:\/\/www.thirdeyesight.in\/?p=1465"},"modified":"2022-09-13T12:02:52","modified_gmt":"2022-09-13T12:02:52","slug":"bally-eyes-india-comeback-in-joint-venture-with-reliance","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/bally-eyes-india-comeback-in-joint-venture-with-reliance\/","title":{"rendered":"Bally eyes India comeback in joint venture with Reliance\u00a0"},"content":{"rendered":"\n<p> <i>Sapna Agarwal, Mint<br>\nMumbai, 14 December 2016<\/i><\/p>\n<div class=\"row\">\n<div class=\"col-sm-4\">\n<p class=\"mt-3\"><img decoding=\"async\" class=\"img-fluid d-block lazyload\" data-src=\"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/bally-kCkB-621x414@LiveMint.jpg\"  src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\"><\/p><\/div>\n<div class=\"col-sm-8\">\n<p class=\"mt-3\">Switzerland&#8217;s\n165-year-old luxury brand Bally is returning to India in a joint\nventure with Reliance Brands Ltd, with plans to open its first store at\nthe DLF Emporio mall in New Delhi in March 2017.<\/p>\n<p>Under the terms\nof their agreement, the joint venture will invest in building a world\nclass retail experience by investing in training of staff and opening\nstores.<\/p>\n<p>Bally is the latest addition to the Reliance Brands\nportfolio which includes Steve Madden, Thomas Pink, Brooks Bro&#8217;s,\nDiesel and Super Dry. The company will establish a network of\nstand-alone Bally stores across major Indian cities.<\/p><\/div><\/div>\n<p>&#8220;In the\nfuture, India is the most important country for us. We want to invest\nand develop the brand in India,&#8221; said Fr\u00e9d\u00e9ric de Narp, chief executive\nofficer of Bally who took charge in November 2013 to turn it around.\n&#8220;Part of this turnaround strategy is the joint venture in India,&#8221; said\nde Narp, who is credited with the successful turnaround of American\njeweller and watchmaker Harry Winston Inc.<br><br>Bally first entered\nIndia in a franchise partnership with Bird Group, which has interests\nin travel technology, hospitality and aviation. It had two stores in\nIndia, one at the Palladium mall in Mumbai and the other at DLF Emporio\nMall. Both these stores have closed in the past two years. The\npartnership was ended earlier this year.<br><br>This time round the\ncompany has spent a few years finding the right partner and fine-tuning\nits strategy for India. &#8220;We have been working in developing this joint\nventure by developing the trust for the last few years,&#8221; said de Narp,\nadding that more importantly, the joint venture is with Reliance, a\nprofitable company and a reliable retailer. <br><br>In India, Bally\nwill sell its entire range across men&#8217;s and women&#8217;s footwear and\naccessories. The new store will be part of the brand&#8217;s global expansion\nwhich has seen the opening of two new concept flagships in Tokyo&#8217;s\nGinza and Los Angeles&#8217; Rodeo Drive this year. The joint venture will\nopen four stores in Delhi, Mumbai, Kolkata and Chennai in the next 3-4\nyears, said Darshan Mehta, chief executive officer, Reliance Brands.<br><br>In\nits previous partnership, Bally which is part of JAB Holding Company, a\nprivately held group known for its brands like Jimmy Choo, Krispy Kreme\nand Belstaff globally, &#8220;had underestimated the challenges in investing\nin India,&#8221; admits de Narp. &#8220;Franchise is a challenging model,&#8221; he\nadded. De Narp is looking at investing this time to build a healthy and\nsustainable business in India.<br><br><span style=\"font-weight: bold;\">To\nbe sure, a majority of international retailers that have launched\noperations in India have come through the franchise route in the last\n4-5 years, said Devangshu Dutta, chief executive officer, Third\nEyesight, a retail consultancy firm. &#8220;Franchise model is a low-risk\napproach for a retailer who is not entirely sure about the market. It\nis about experimenting and exploring the market,&#8221; said Dutta, adding,\n&#8220;However, once they have committed they prefer to invest.&#8221;<\/span><span style=\"font-style: italic;\"><\/span><br style=\"font-weight: bold;\">\n<\/p>\n<p><i>(Published\nin <a href=\"http:\/\/www.livemint.com\/Industry\/JiNSUzrWePHtl1rYcMxD9H\/Bally-eyes-India-comeback-in-joint-venture-with-Reliance.html\" target=\"_blank\" rel=\"noopener\">MINT<\/a>)<\/i>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sapna Agarwal, Mint Mumbai, 14 December 2016 Switzerland&#8217;s 165-year-old luxury brand Bally is returning to India in a joint venture with Reliance Brands Ltd, with plans to open its first store at the DLF Emporio mall in New Delhi in March 2017. Under the terms of their agreement, the joint venture will invest in building [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-1465","post","type-post","status-publish","format-standard","hentry","category-press-quotes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bally eyes India comeback in joint venture with Reliance\u00a0 - Third Eyesight<\/title>\n<meta name=\"robots\" content=\"index,follow\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myechoproject.com\/TES\/bally-eyes-india-comeback-in-joint-venture-with-reliance\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bally eyes India comeback in joint venture with Reliance\u00a0 - Third Eyesight\" \/>\n<meta property=\"og:description\" content=\"Sapna Agarwal, Mint Mumbai, 14 December 2016 Switzerland&#8217;s 165-year-old luxury brand Bally is returning to India in a joint venture with Reliance Brands Ltd, with plans to open its first store at the DLF Emporio mall in New Delhi in March 2017. 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