INSUBCONTINENT EXCLUSIVE:
Reliance Brands will acquire a 40 per cent stake in Manish Malhotra's brandReliance 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
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
couture stores in Delhi and Hyderabad; the launch of India's first couture virtual store; and redefining glamour at Indian weddings, I
and culture,'' added Mr Malhotra.
