Reliance Brands To Acquire 40% Stake In Manish Malhotra’s Designer Label
Reliance Brands Limited (RBL) – part of the retail arm of billionaire Mukesh Ambani-owned Reliance Industries will acquire a 40 per cent stake in brand ‘Manish Malhotra’ to accelerate the 16-year old couture house’s growth in India and across the globe. On Friday, October 15, Reliance Brands and Manish Malhotra announced a strategic partnership as part of the deal, according to news agency ANI.
Reliance Brands signed a definitive agreement to invest in founder and creative director, Manish Malhotra’s brand – known for Indian craftsmanship, dynamic glamour, and vibrant designs for high-end luxury clothing.
This is the first external investment for Manish Malhotra’s brand, which has been privately held by the designer so far. The brand will continue to be led by Manish Malhotra, as Managing and Creative Director after the partnership with Reliance.
“Our strategic partnership with Manish Malhotra is anchored on our immense respect for his craft and our deep commitment to Indian art and culture. Being an entrepreneur, Manish the man behind the brand, has always been nimble and ahead of his times,” said Ms Isha Ambani, Director, Reliance Retail Ventures Limited.
”Recognition and appreciation for Indian couture is at an inflexion point globally and we are excited to partner in this journey with Manish,” added Ms Ambani.
Reliance said that the coming together of the country’s “leading couture house and foremost luxury conglomerate” aims to develop a corporate framework that sustains Manish Malhotra’s legacy for generations to come.
The Manish Malhotra brand has a significant cache of current and potential consumers across global fashion capitals and onward plans include expansion both in India and international markets, according to Reliance.
Besides the physical retail expansion, the partnership is aimed on creating a technology backbone for the business, developing phygital and experiential e-commerce opportunities.
“From the largest luxury couture stores in Delhi and Hyderabad; the launch of India’s first couture virtual store; and redefining glamour at Indian weddings, I have always aimed to set benchmarks across the life of the brand,” said Manish Malhotra on the partnership.
”The collaboration with Reliance Brands was a natural decision for me, as it represents both Reliance’s astute vision and the family’s deep affinity for crafts and culture,” added Mr Malhotra.
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