South Asia: Mothercare and Reliance Brands create a joint venture

On October 17, the struggling British retailer Mothercare (sales of US$355 million in the fiscal year to March 2024, down by 9% at constant exchange rates after a fall of 13% in 2022) and the British subsidiary of Reliance Brands Ltd. announced the creation of a joint venture (49% and 51% respectively). With an investment of US$21 million, Reliance becomes the exclusive franchisor for India, Nepal, Sri Lanka, Bhutan and Bangladesh. Since 2018, the Indian retailer (which manages 2,200...