Reliance exploring deal to bring British retailer Primark to India, says report

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market, as per an Economic Times report. This potential move would position Reliance against competitors such as Tata's Zudio, Max from Landmark Group, and Shoppers Stop's new value format InTune, it added. The 55-year-old Primark brand, known for its affordably priced clothing and shoes, has been assessing the Indian market for several years and might collaborate with Reliance through a joint venture or licensing agreement, two sources told the paper.

Once in India, most of the stores are expected to be on the high street due to the brand's big box format, differing from global retailers that typically prioritise malls, the report added. Primark has experienced significant global revenue growth in recent years, except for two Covid-affected years. The brand offers products at even lower prices than competitors such as H&M and Uniqlo.

While China is the primary source country for Primark, India ranks second in the number of factories supplying the company, a sign of the brand's commitment to nearshoring in its supply chain strategy. Reliance, as India's largest retailer with multiple international brand partnerships, could provide a substantial advantage to Primark with its real estate and operational synergies, Devangshu Dutta, founder of retail consulting firm Third Eyesight told the paper. Experts suggest that India's consumption structure, previously skewed towards a narrow base of wealthier consumers, is now expanding opportunities for value brands.