MILAN (Reuters) – Italian fashion house Valentino will open its first mono-brand stores in India after signing a distribution agreement with the country’s biggest retailer Reliance, the companies said in a joint statement on Thursday. Though small for a country of its size, India’s luxury market is set to be one of the fastest growing in the industry. It will nearly double in size to almost $5 billion within five years, Euromonitor estimates. “The first store is due to open in 2022 by the end of the summer, with the flagship store in Mumbai to follow in the coming months,” the statement said. …