Reliance to expand luxury portfolio to include homegrown designer brands
Reliance has recently expanded into luxury retail with Mukesh Ambani’s recently acquired 40 percent stake in MM Styles Ltd. The company is looking to establish the Manish Malhotra brand as a global haute couture powerhouse. The label will continue to be headed by designer Manish Malhotra, known for expertly crafted traditional Indian wear worn by the rich and famous of the country.
This purchase of shares is an addition to a long line of investment made by Reliance Brands Ltd. (RBL) in its quest to continue dominating luxury retail in India. Since being founded in 2007, RBL has invested in a myriad of Indian fashion houses including Satya Paul and Raghvendra Rathore, along with partnerships with foreign brands like Kate Spade, Tiffany & Co, Steve Madden, Burberry, Hugo Boss, and Super Dry.
The company has recently shifted focus to growing its repertoire of and developing homegrown designer labels.
In a recent statement, the company said, “As upcoming consumption power steadily moves from west to east, the fashion and design sensibilities are not far behind. Recognising these winds of change, Reliance Brands, in its next wave of value creation, is setting its sight towards homegrown talent rooted in Indian design sensibilities.”
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