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Reliance brands is in talks with Italian Luxury Fashion company Versace, to take over the latter’s Indian franchisee rights.

According to media reports, Reliance is also signing a deal with Valentino to sell luxury products in India and move a step forward towards top-end brands portfolio. Reliance has been in talks with Valentino for more than two years.

Last month Economic Times reported that Versace is looking for new Indian partner along with Roberto Cavalli. Both the brands are currently operated by Chaurasia Group through its Infinite Luxury Brands.

If everything falls in place, this deal will be the third partnership for Versace’s parent company Capri Holdings with Reliance Brands. Previously, both companies sealed the deal for Capri’s two labels, Jimmy Choo and Michael Kors.