Reliance Retail’s Swadesh Teams Up with Luxury Designer Falguni Shane Peacock for Handicrafts Expansion

Reliance Retail’s Swadesh, an ethnic handicrafts venture, has formed its first partnership with luxury designer label Falguni Shane Peacock. According to executives familiar with the deal, this collaboration might lead to a deeper strategic partnership in the future.

Aiming for Expansion

Reliance Retail aims to expand Swadesh by opening stores similar to the government-run Cottage Emporium, selling ethnic handicrafts, fusion clothing, jewelry, and home decor.

Reliance Retail already has partnerships with luxury designers such as Satya Paul, Ritu Kumar, and Manish Malhotra. In the western lifestyle and fashion segment, it collaborates with global luxury brands including Versace, Balenciaga, Armani, Jimmy Choo, Gas, and Hugo Boss. A request for confirmation from Reliance Retail’s spokesperson went unanswered as of Thursday. Currently, the company has a Swadesh experience store in Mumbai and a standalone Swadesh store in Hyderabad’s Jubilee Hills.

Falguni Shane Peacock

Falguni Shane Peacock, founded by the designer couple Falguni and Shane Peacock, is known for blending traditional Indian craftsmanship with modern western trends. Their designs have dressed international celebrities like Beyonce and Rihanna.

Researcher IMARC Group projects the Indian handicraft sector will reach annual sales of $6.21 billion by 2028, up from $3.96 billion in 2022. The sector is largely fragmented and unorganized, with a mix of large, organized players and numerous regional startups, direct-to-consumer (D2C) companies, and state and central handicraft platforms.

Last week, Reliance Industries’ retail division reported revenue of ₹75,630 crore for the quarter ended June, an 8.1% increase from ₹69,962 crore in the same quarter last year. The company expanded its network by opening 331 new stores during the quarter, bringing the total store count to 18,918.