Reliance Retail forms 50:50 joint venture with Israel's Delta Galil

New Delhi: Reliance Retail on Tuesday announced a joint venture with Delta Galil Industries, an Israel-based global manufacturer of branded and private label innerwear, in a bid to enhance its play in the apparel market.

This 50:50 joint venture with Delta Galil, which operates in intimate, activewear, loungewear and denim apparel for ladies, men and children, aims to redefine the apparel landscape in the Indian market, said a joint statement.

Through the collaboration, Delta Galil will also support the JV, which will design and manufacture products for Reliance's own brands in the segment.

The JV will also launch Delta family lifestyle stores and Athena brand for men's and ladies' innnerwear, over the next 18 months, it added.

"Delta Galil, renowned for its innovation and product excellence, will leverage this venture to expand its footprint in the rapidly growing Indian market, offering its acclaimed portfolio of intimate apparel and activewear brands across retail, wholesale and digital channels," it said.

Reliance Retail Managing Director V Subramaniam said: "Together, we are poised to elevate the consumer offerings in the intimate apparel and activewear segments across our retail platforms."

Delta Galil's CEO Isaac Dabah said: "The joint venture will enable Reliance Retail to tap into Delta Galil's deep industry expertise and innovation capabilities in intimate apparel and activewear, key product categories that are poised to grow significantly in the Indian market."

Reliance Retail, which crossed the milestone of Rs 3 lakh-crore revenue mark in FY24, in its latest annual general meeting announced the target to double its business in next three to four years.

Established in 1975, Delta Galil Industries is a global manufacturer and marketer of branded and private label apparel for men, women and children under its brands Schiesser, Eminence, and Athena.

In addition, it sells products under brand names licensed to the company, including Adidas, Wolford, Wilson, Columbia, Tommy Hilfiger and others.

Reliance Retail Ventures Ltd (Reliance Retail) is the holding company of all the retail companies under the billionaire Mukesh Ambani-led Reliance Industries Ltd. RRVL reported a consolidated turnover of Rs 3,06,786 crore for the year ended March 2024.