Skip to content 
Search

Latest Stories

Partnership with Reliance to support Tiffany & Co to offset subdued demand in US, Europe: GlobalData   

LUXURY jeweller, Tiffany & Co will be able to expand globally and offset the subdued demand in the US and Europe by leveraging Reliance’s longstanding brand presence and product positioning, analysis from GlobalData showed.

The US-based Tiffany & Co, known for its diamond engagement rings and robin's egg blue boxes, has been trying to foray into the Indian market for a long time.


As part of its efforts to enter the Indian market, Tiffany & Co is forming a joint venture with India's Reliance Brands Limited (RBL), a part of the Reliance Industries Limited (RIL) or Reliance, to open a line of stores in the country.

Shagun Sachdeva, Consumer Insights Analyst at GlobalData said: “India is the fastest-growing luxury market in the Asia-Pacific region and is expected to grow at a compound annual growth rate of 14.2 per cent during 2017 to 2022 to reach $7 billion in 2022.

“The projected healthy growth can be attributed to the positive economic outlook, growing younger upper-middle-class population coupled with growing brand-consciousness, and the increasing popularity of the online channel for luxury shopping.”

After the deployment of omnichannel model and the introduction of the iconic British toy retailer Hamleys in India earlier this year, the latest move by Reliance to open Tiffany stores in Delhi later this year and in Mumbai in 2020 through a joint venture is in line with its strategy to bring the best-in-class products to the emerging Indian luxury market. It provides a unique opportunity for Reliance to bolster its consumer-focused units, retail and telecoms, to match the strength of its leading oil and gas business, Sachdeva concluded.

More For You

Priyanka Chopra

Priyanka Chopra says she wants strong roles not just ornamental characters

Getty Images

Priyanka Chopra says she is just getting started in Hollywood with 'Heads of State' on Prime Video

Quick highlights:

  • Priyanka Chopra Jonas says she’s just getting started in Hollywood.
  • Stars as a fierce MI6 agent alongside Idris Elba and John Cena.
  • Gets into serious action mode with explosions, helicopters, and hand-to-hand combat.
  • Says her journey is still evolving, with much more to explore in the West.

Priyanka Chopra Jonas may have ruled Bollywood for over two decades, but the global star believes she’s still “nascent” in her Hollywood journey, and that’s what makes it exciting.

The Quantico and Citadel actor stars in the new Amazon Prime Video film Heads of State, playing a sharp MI6 agent named Noel Bisset. Her character has a complicated history with British Prime Minister Sam Clarke (played by Idris Elba) and is tasked with protecting him and the newly elected US President Will Derringer (John Cena) when they're attacked before a major NATO conference.

Keep ReadingShow less
Arijit Singh

Arijit Singh becomes most followed musician on Spotify

Getty Images

Arijit Singh overtakes Taylor Swift and Ed Sheeran to become most followed artist on Spotify

Quick highlights:

• Arijit Singh makes global music history with 151 million Spotify followers

• Surpasses Taylor Swift and Ed Sheeran in follower count

Keep ReadingShow less
Manchester Police probes over 1,000 child sexual abuse suspects

Photo for representation. (iStock)

Getty Images/iStockphoto

Manchester Police probes over 1,000 child sexual abuse suspects

GREATER MANCHESTER POLICE is now investigating more than 1,000 child sexual abuse suspects, following years of public criticism and institutional failings in tackling child sexual exploitation.

A new report by His Majesty’s Inspectorate of Constabulary and Fire & Rescue Services (HMICFRS) has revealed the force has made “significant improvements” in dealing with group-based sexual abuse and related crimes.

Keep ReadingShow less
Diwali

This year’s Diwali event will still see Belgrave Road continue to host what is left of the festival. (Representational image)

Major changes announced for Leicester’s Diwali celebrations amid safety fears

LDRS

THIS year’s annual Diwali celebrations will be stripped back amid public safety fears. Leicester City Council has said there will be no fireworks or stage entertainment as part of major changes announced for the event.

Cossington Street Recreation Ground will also not be used for the festivities, the council has revealed. The green space previously was the location for the main stage and the Diwali Village with its food stalls, funfair rides, fashion and arts. The annual fire garden display was also based there, offering “a peaceful oasis amid the festive excitement”.

Keep ReadingShow less
Liam Gallagher

Liam Gallagher arrives for the special screening of Oasis documentary "Supersonic"

Getty Images

Liam Gallagher apologises for racial slur after backlash as Oasis reunion tour kicks off

Quick highlights:

  • Liam Gallagher issued an apology after using a racial slur in a now-deleted social media post.
  • The offensive post appeared just days before Oasis kicked off their reunion tour in Cardiff.
  • Fans criticised the singer on X, prompting him to clarify it was unintentional.
  • Oasis will perform over 40 shows globally, starting 5 July in Wales.

Liam Gallagher has apologised for using a racial slur in a post on X, as Oasis reunites for their first tour in 15 years. The singer shared a one-word reply on Monday that included a derogatory term aimed at East Asian people. Though he quickly deleted it, screenshots circulated online, sparking widespread criticism.

In a follow-up post on Tuesday, Gallagher wrote: “Sorry if I offended anyone with my tweet before it wasn’t intentional you know I love you all and I do not discriminate. Peace and love LG x.”

Keep ReadingShow less