28 March 2022, Mumbai:
As a part of its franchise deal Reliance Network has acquired 85 stores from multibrand eyewear retailer Sunglass Hut from DLF Brands.
Reliance Retail will run the business’ stores, adding to its eyewear offer as well as its premium offer.
The acquisition will be Reliance Retail’s second foreign brand acquired from DLF following its franchise acquisition of UK-based personal care and lifestyle brand Mothercare in 2018.
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Sunglass Hut retails a range of luxury and bridge-to-luxury eyewear from international brands including Prada, Burberry, Dolce & Gabbana, Oakley, and Ray-Ban, among others.
Sunglass Hut first entered the Indian market in 2013 with DLF Brands with the initial target of opening 100 brick-and-mortar stores across the country.
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DLF Brands has let go of a number of its international fashion, beauty, and personal care brands over the past few years.
In 2017, the business sold local franchisee rights to fast-fashion brand Mango to Flipkart’s fashion arm Myntra and in 2016 DLF Brands sold its Forever 21 franchise to textile giant Aditya Birla Group.
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CREDITS: Fashion Network report.
