Reliance Industries talks: Primark could launch in India

March 06, 2024

Category: GARMENTS

Country: India

By Isabelle Crossley
5th March, 2024

Reliance Industries Limited is exploring talks to bring British value fashion and lifestyle brand Primark to India. This could result in the label opening large scale stores on Indian high-streets.

“India is an obvious growth market choice for large brands and retailers such as Primark,” retail consulting business Third Eyesight’s founder Devangshu Dutta told ET Bureau. “In the end, though, it will come down to how effective the merchandise and the marketing is in connecting with the diverse needs of Indian consumers across the country.”

Primark’s main country for product sourcing is China and its second largest is India. Therefore, opening stores in India would enable the brand to send products from India manufacturing units directly to stores in the country, saving money on logistics costs. This would also enable it to respond to specific local market needs.

“As a growing international business, we’re always open to new opportunities,” a spokesperson for Primark told the Economic Times when asked about the development. “However, we don’t comment on speculation about where we might expand to next.”

Primark is based in the UK and counts over 400 stores globally. The business has a global store count goal of 530 by 2026 and is owned by Associated British Foods, which is listed on the London Stock Exchange.