Isha Ambani is all set to seal the major deal with one of the popular US footwear brands named Timberland. This deal will be marked as one of the major steps towards the comeback of the brand in the Indian Market. Timberland footwear products will be available through reliance online platform Ajio, which will be competition to brands like woodland. Timberland’s return to India is poised to intensify competition in the footwear market, prompting other brands to develop strategies to retain customers as the American company draws in new buyers. Timberland had previously exited India due to fierce competition and a legal dispute with the local brand, Woodland.
Reliance is looking to enhance its retail presence by adding popular global brands like H&M and Timberland to its portfolio, following a licensing and distribution agreement with Timberland signed in 2009. Timberland closed its retail stores in India in 2015 due to strong local competition and a legal dispute with Woodland over similarities in logos and product designs. Timberland, part of VF Corporation, faced an intellectual property issue with Woodland. Recently, Reliance Retail Ventures reported a 1.3% increase in net profit for the July-September quarter, reaching Rs 2,386 crore, with revenue at Rs 66,502 crore.
Reliance Industries shares fell by approximately 2% yesterday following disappointing Q2 earnings, though the net profit exceeded expectations. Aero Group, Woodland's parent company, has been operating since the 1950s. Having started in Canada, Woodland entered the Indian market in 1992 after previously exporting leather footwear to Russia.