What: SMCP enters India through a major deal.

Why it is important: The Indian gold rush has begun.

SMCP, the owner of French fashion labels Sandro and Maje, has entered a deal with Reliance to expand into the Indian market. The company plans to open stores in the Jio World Plaza mall in Mumbai, as part of a broader move by high-end European brands to establish a retail presence in India. SMCP's CEO, Isabelle Guichot, sees potential in India due to its growing wealth, young population, and lack of accessible luxury fashion labels. After initial experiences in luxury hotel outlets, SMCP, through its partnership with Reliance Brands, aims to open around 10 stores in India over the next three to five years, starting in Mumbai. The financial details of the partnership have not been disclosed.

France's SMCP strikes deal with Reliance to expand into India