Reliance Brands Limited acquires 40 percent stake in Manish Malhotra
India’s largest luxury retailer Reliance Brands Limited (RBL) has acquired a 40 percent stake in MM Styles Private Limited that owns Manish Malhotra’s eponymous brand.
The investment is expected to fuel the brand’s growth plans in Indian and global fashion markets couple with development of phygital and experiential e-commerce business. This is the first external investment for the brand, which had so far been privately held by the designer.
Commenting on the partnership, Isha Ambani, director Reliance Retail Ventures Ltd, in a statement said: “Our strategic partnership with Manish Malhotra is anchored on our immense respect for his craft and our deep commitment to Indian art and culture. Recognition and appreciation for Indian couture is at an inflexion point globally and we are excited to partner in this journey with Manish.”
Manish Malhotra added: “The collaboration with Reliance Brands Ltd was a natural decision for me, as it represents both Reliance’s astute vision and the family’s deep affinity for crafts and culture. As the brand aims for international expansion, business diversification, and renewed creative growth, there could have been no better strategic partner to accompany us on this journey.”
Launched in 2005, Manish Malhotra has four flagship stores in Mumbai, New Delhi, and Hyderabad, 2 shop-in-shops, a virtual store, and over 12 million social followers across various channels.
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