Reliance Retail and British shoemaker Clarks have called it quits on their two-year-old joint venture, according to Business Standard. The decision to terminate the partnership was reportedly due to differences over certain terms of engagement between the two companies. As a result, they have mutually agreed to part ways.
Clarks Reliance Footwear Pvt Ltd has over 30 exclusive stores under the Clarks brand located in all major cities of India including New Delhi, Mumbai Bengaluru, Lucknow Hyderabad and Chennai as per information available on company's website for India.
Clarks previously had a deal with the Kishore Biyani-led Future, JV Clarks Future Footwear, but the partnership was later called off when Future Group landed into financial trouble.
Clarks has also collaborated with Reliance Brands Ltd (RBL), a subsidiary of Reliance Retail, which partners with several international brands.
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