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Reliance Retail to sell UK's ASOS apparel in India

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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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