Reliance Brands Limited (RBL) – a 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 world. On Friday, October 15, Reliance Brands and Manish Malhotra announced a strategic partnership as a part of the deal, in line with news organisation ANI.
Reliance Brands signed a definitive agreement to take a position in founder and artistic director, Manish Malhotra’s brand – known for Indian craftsmanship, dynamic glamour, and vibrant designs for high-end luxury clothing. this is often the primary external investment for Manish Malhotra’s brand, which has been privately held by the designer to date. The brand will still be led by Manish Malhotra, as Managing and inventive 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 person behind the brand, has always been nimble and prior to his times,” said Ms Isha Ambani, Director, Reliance Retail Ventures Limited.
”Recognition and appreciation for Indian couture is at an inflexion point globally and that we are excited to partner during this journey with Manish,” added Ms Ambani.
Reliance said that the approaching together of the country’s “leading couture house and foremost luxury conglomerate” aims to develop a company framework that sustains Manish Malhotra’s legacy for generations to return.
The Manish Malhotra brand encompasses a significant cache of current and potential consumers across global fashion capitals and onward plans include expansion both in India and international markets, in step with 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 most important luxury couture stores in Delhi and Hyderabad; the launch of India’s first couture virtual store; and redefining glamour at Indian weddings, i’ve got always aimed to line benchmarks across the lifetime of the brand,” said Manish Malhotra on the partnership.
‘The collaboration with Reliance Brands was a natural decision on behalf of me, because it represents both Reliance’s astute vision and also the family’s deep affinity for crafts and culture,” added Mr Malhotra.
