Mukesh Ambani's Daughter Isha Brings Back This Iconic US Brand To India: Here's How It Could Impact Indian Footwear Market

New Delhi: Mukesh Ambani's daughter Isha Ambani has sealed a major deal with the US footwear brand Timberland. The deal has marked the comeback of the brand in the Indian market. The brand will cater to Indian consumers through Reliance's online platform, Ajio. This will bring new competition to leading footwear brands like Woodland.

How The Deal Will Impact Indian Footwear Industry?With Timberland’s re-entry, the footwear market in India is set to heat up. Other companies will need to devise strategies to retain their customers as the American brand starts attracting buyers. Timberland had previously exited the Indian market due to tough competition and a legal dispute with a major brand. Why Reliance Has Teamed Up With Timberland?Reliance aims to expand its presence in the retail sector by strengthening its portfolio with popular global brands like H&M and Timberland. Notably, the company had signed a licensing and distribution agreement with Timberland back in 2009. Why Did Timberland Shut Down Stores In India Earlier?Earlier, Timberland had to shut down its retail stores in India in 2015 due to intense competition in the local market and a legal dispute with the domestic brand Woodland. Timberland, a subsidiary of US-based VF Corporation, became embroiled in an intellectual property dispute with Woodland over similarities in logos and product designs. Reliance Industries Quarter ResultsMeanwhile, Reliance Retail Ventures recently reported its financial results for the July-September quarter. The company posted a 1.3 per cent rise in net profit, reaching Rs 2,386 crore, with revenue standing at Rs 66,502 crore.

Reliance Industries Share PriceReliance Industries shares were falling yesterday. At the end of the day, RIL shares were approx. 2 per cent down. This was due to the soft quarter earnings in Q2. However, the company witnesses a better net profit than the expectation. When Woodland Established In India?Woodland's parent company, Aero Group, has been in the industry since the 1950s. After its establishment in Canada, Woodland entered the Indian market in 1992. Before that, Aero Group was exporting its leather footwear to Russia.