Reliance Retail to sell UK's ASOS apparel in India
Adds details, background from paragraph 2
BENGALURU, May 16 (Reuters) -India's Reliance Retail entered a partnership to sell British online retailer ASOS' ASOS.L products in India, the Reliance Industries RELI.NS unit said on Thursday.
U.K.- listed shares of ASOS, whose products cater to young adults, rose as much as 3.9% on the news.
The partnership is the latest in a string of deals by Reliance Retail, which has brought international brands such as American jewellery seller Tiffany & Co and French luxury brand Balenciaga to India.
The retail arm of the Mukesh Ambani-led conglomerateopened 562 stores during the fourth quarter of fiscal 2024, it said while reporting results for the period. The unit accounts for roughly a third of revenue for Reliance Industries, which is the country's most valuable company.
Reliance Retail did not specify when it will begin distributing ASOS products in India or provide a deal value.
Reporting by Varun Hebbalalu in Bengaluru; Editing by Nivedita Bhattacharjee
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