Reliance Retail handicrafts arm Swadesh teams up with Falguni Shane Peacock

26 July 2024, Mumbai

Reliance Retail's ethnic handicrafts venture, Swadesh has collaborated with luxury designer label Falguni Shane Peacock to open stores similar to the government-run Cottage Emporium to offer ethnic handicrafts, fusion clothing, jewelry, and home decor. Currently, Swadesh operates an experience store in Mumbai and a standalone store in Hyderabad's Jubilee Hills.

Reliance Retail already has numerous partnerships with luxury designers, including Satya Paul, Ritu Kumar, and Manish Malhotra. In the western lifestyle and fashion space, it collaborates with global luxury designer labels such as Versace, Balenciaga, Armani, Jimmy Choo, Gas, and Hugo Boss.

Founded by designer couple Falguni and Shane Peacock, the brand Falguni Shane Peacockis renowned for blending traditional Indian craftsmanship with modern western trends, and has dressed international celebrities including Beyoncé and Rihanna.

India’s annual sales from the Indian handicraft sector are projected to rise from $3.96 billion in 2022to $6.21 billion by 2028. The sector continues to be fragmented and unorganised, with a few large, organised players alongside numerous regional startups, direct-to-consumer (D2C) players, and state and central handicraft platforms.

Last week, Reliance Retail reported a 8.1 per cent rise in revenues to Rs75,630 crore for the quarter ending June 2024 as against Rs69,962 crore in the same quarter the previous year. The company also expanded its retail network by opening 331 new stores during the quarter, bringing the total store count to 18,918.

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