Mumbai, August 8: Days after Mukesh Ambani-led Reliance Industries Limited (RIL) inked a deal with British oil major BP Plc, the Indian industrialist has signed a deal with Tiffany & Co. to re-launch the brand in India. Ambani is all set to bring iconic jewellery brand Tiffany & Co. to India, after the brand failed to make an unsuccessful franchising deal with a local jeweller in the country years ago.

It is to be known that Tiffany & Co. has been trying to re-launch the brand in a market that they have been trying to enter for a long time. Along with this, reports are arriving that designer brand Tory Burch will also be launched in the country at the same time next year. Mukesh Ambani's RIL Inks Deal With British Oil Major BP Plc, Likely to Open 5,500 Petrol Pump Outlets in 5 Years in India

Both the brands are set for launch next year at the Jio World Centre Mall which will be opened in Mumbai in April next year. However, there has been no official comments from any of them on these partnerships.

Earlier, reports arrived that RIL RIL is mulling set up 5,500 fuel retail stations across the country. RIL would run 1,378 retail outlets, which it operates independently across India at present. However, the time frame for setting up the outlets nor it did disclose the details the investments in the new venture.

Based on the joint statement issued by the companies, the joint venture - signed between RIL and BP Plc - Reliance would own 51 percent while the remainder would be with BP. It also mentioned that they would market aviation turbine fuel to cater to India’s growing aviation industry.

(The above story first appeared on LatestLY on Aug 09, 2019 12:01 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).