- Advertisement -
HomeBusinessMukesh Ambani's Reliance Industries tied up with Manish Malhotra's company, bought 40%...

Mukesh Ambani’s Reliance Industries tied up with Manish Malhotra’s company, bought 40% stake in MM Styles

Reliance Brands Limited (RBL), a unit of Mukesh Ambani’s Reliance Industries Limited, has decided to buy 40 per cent stake in designer Manish Malhotra’s MM Styles.

Reliance Brands Limited (RBL), a unit of Mukesh Ambani’s Reliance Industries Limited, has decided to buy 40 per cent stake in designer Manish Malhotra’s MM Styles. This is one of the biggest investments by Reliance Brands in the luxury ethnic wear market. However, the company has not disclosed anything about the size of the deal.

Will help in growth in India and abroad

The company said that Reliance Brands plans to help the 16-year-old label grow in India and abroad. and will build Manish Malhotra’s brand as a fashionable clothing powerhouse across the globe. Both the companies will expand the brand into a larger lifestyle consumption portfolio and help drive its growth in the accompanying categories as well. With this the brand’s position in the market for occasion and wedding wear will be maintained. The brand will continue to be led by designer Manish Malhotra as its Managing and Creative Director.

Malhotra has designed costumes for many blockbuster Bollywood films. In a career spanning over three decades, Malhotra has established himself as one of the leading costume stylists and luxury couturier of Hindi cinema. The companies said in a joint statement that this is the first external investment for the brand, which has so far been handled by the designer alone.

Presently, Malhotra runs four flagship stores in the country. Apart from this, they have two shop-in-shops.

Reliance Brands has 595 stores in India

The company said in the statement that this move reflects a change in the strategy of Reliance Brands. After 14 years of bringing global premium and luxury western brands to India, Reliance Brands will now focus on domestic designer labels. He further added that as there will be an increased change in consumption in the times to come, the sensibilities of fashion and design are also not far behind. Recognizing these changes, Reliance Brands will work towards the talent of Indian design.

Reliance Brands comprises more than 60 brands, most of which are international. And it has 595 stores and 744 shop in shops in India. Her portfolio includes big fashion brands like Brooks Baders, Burberry, Hamleys, Hugo Boss, Hunkemoller, Iconix, Jimmy Choo, Kate Spade New York etc. Satya Paul is also included in its portfolio. She has also invested in the label of Indian menswear designer Raghavendra Rathod.

Investment in Malhotra’s company will help it expand both in India and abroad. Malhotra’s company sells expensive Indian clothes, which are worn by the rich and famous people of India.

read this also: Online term insurance: The market of insurance is changing, people are buying online term insurance by themselves instead of agents

read this also: The country’s foreign exchange reserves increased, the figure reached $ 639.51 billion

.

Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
- Advertisement -
Must Read
- Advertisement -
Related News
- Advertisement -