Reliance Brands Ltd. has inked an exclusive long-term deal with Steven Madden Ltd. to bring Steve Madden footwear and accessories to India.
The products will be available through exclusive standalone and premium department stores in all major cities across India. The first standalone store is slated to open in the first quarter of 2011. According to Reliance, the brand will target women between 16 and 40 years old. Under the licensing agreement, the stores will also offer the juniors’ line Madden Girl.
“India and its diverse consumer base is a very important and strategic market for us,” said Edward Rosenfeld, CEO of Steve Madden. “Our association with Reliance Brands culminates a long-cherished goal of entering this unique market and marks the beginning of a long-term association with the trend-conscious Indian consumers.”
Reliance Brands is part of Reliance Industries Ltd. and was founded in 2007 with a mandate to launch and build apparel, footwear and lifestyle businesses ranging from luxury to mainstream fashion in India.
Reliance has joint-venture partnerships with Paul & Shark, Diesel and Ermenegildo Zegna, as well as distribution agreements with Timberland and Quiksilver.
“Currently here is a great demand for fashionable women’s footwear and accessories in India,” said Darshan Mehta, president and CEO of Reliance Brands. “However, it is one segment that is lacking in options. Through our association with Steve Madden we look forward to translating the brand’s unique fashion sense into the mindset of the Indian women consumers.”