India Development News & Foreign Investment Opportunities

Tiffany brings luxury to India through two stores

Delhi store to open 2H2019

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Delhi store to open 2H2019

 

Tiffany Co.

 

Tiffany & Co plans to open new stores in Delhi in fiscal 2H 2019 and Mumbai in 2H 2020, capitalizing on its already strong image and brand awareness in this emerging and style conscious luxury market.

It announced the plans on 7 August 2019 of a joint venture with Reliance Brands Limited to enter the Indian market.
“As a global luxury jeweler with stores in many of the world’s most important cities, Tiffany’s emergence in these Indian commerce centers 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,” he said.

Tiffany operates more than 320 stores in more than 25 countries with over 80 in Asia-Pacific, as well as ecommerce 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 jewelry collections and superlative diamonds to India.”

In 1837, Charles Lewis Tiffany founded his company in New York City where his store was soon acclaimed as the palace of jewels for its exceptional gemstones.

Since then, TIFFANY & CO. has become synonymous with elegance, innovative design, fine craftsmanship and creative excellence. During the 20th century its fame thrived worldwide with store network expansion and continuous cultural relevance, as exemplified by Truman Capote’s Breakfast at Tiffany’s and the film starring Audrey Hepburn.

Today, with more than 14,000 employees, TIFFANY & CO. and its subsidiaries design, manufacture and market jewelry, watches and luxury accessories – including more than 5,000 skilled artisans who cut diamonds and craft jewelry in the Company’s workshops, realizing its commitment to superlative quality.

The Company operates more than 300 TIFFANY & CO. retail stores worldwide as part of its omni-channel approach. To learn more about TIFFANY & CO. as well as its commitment to sustainability, please visit tiffany.com.

Reliance Brands Limited (RBL) is part of the Reliance Industries Limited (RIL), a US$120 billion market-cap conglomerate. fiinews.com

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