Italian lifestyle brand Diesel has decided to launch the brand in the Indian market. Diesel has partnered with Reliance Brands (a Mukesh Ambani owned entity). The Diesel-Reliance joint venture is in the ratio of 51:49.
Five stores will be launched in the next 3 months at Mumbai, Delhi, Bangalore, and Hyderabad. The first store is all set to be launched in Mumbai. The store will be called ‘Be Stupid’ and will flaunt the diesel collection across the 3 floor store spread across 7,500 sq ft.
Renzo Rosso, President and Founder of Diesel said, “I have always admired Indian people, they are very passionate about what they do and they have an innate fashion taste. India has been one of our major objectives for the last 5 years; we worked hard in order to find the right location, the perfect time and the best partner to expand our brand in this country. The time is now and we are very excited to be here.”
Darshan Mehta, President and CEO, Reliance Brands, also added, “To launch In India one of the most iconic brand in contemporary fashion, is the culmination of a dream and many months of painstaking but enjoyable work for my team and me. Diesel has spawned a genre of fashion that is an alternate to established luxury and in India it arrives to a throng of hungry fashionastas and a growing generation of cool consumers.”
Diesel expects to launch all the stores by end of June.