The 51:49 JV between Reliance Brands and Italian Sixty Group has come to an end. Disagreements between the two companies are supposed to be the reason for the break up.
According to the JV, Reliance Brands was supposed to set up standalone stores for the brands of Sixty Group, such as Miss Sixty, Energie, Killah and Sixty and the authentic wear Murphy and Nye, Refrigwear, Richlu and Baracuta.
As initially planned Darshan Mehta, president and CEO, Reliance Brands was to spearhead the JV. The JV was also supposed to launch 56 exclusive high-end stores in the first three years across top-10 cities, focusing four Sixty Group’s brands – Miss Sixty, Energie, Killah and Murphy and Nye.
Despite, the JV between Reliance Brands and Sixty Group not working out, Reliance Brands is going ahead and forming JVs with other Italian companies like Dama SpA and Diesel.