Reliance Brands plans to invest in Indian designer labels
The company is looking to pick up stake in the fashion labels of some of India’s renowned designers and currently in talks with over 6 top designers from the country, the ET reported citing anonymous sources.
Some of the designers like Raghavendra Rathore, Rajesh Pratap Singh who were approached by Reliance have confirmed the same.
“There has been some mutual exchange of ideas with a few parties that we could align with — as you may appreciate, this is an ongoing process and if we align our thoughts with a common vision, and if all stakeholders see the value in that, only then, can one proceed to discussing such possibilities,” said Rathore.
“Our business has a lot of potential for both bespoke wear and retail in the menswear arena because of the DNA of the brand, which permits it to be independent from the dictates of fashion cycles. Yes, we would be open to seeking external investment just as we have done for the Gurukul School of Design, that we have set up in Jaipur,” Rathore added.
A spokesperson for Rajesh Pratap Singh confirmed being approached by Reliance Brands, but said it was a long time ago. “It would be important for us to look at not just a partner for investment in the business but also someone who would be a strategic fit for our growth,” the spokesperson said.
Reliance Brands sells international labels such as Diesel, Hamleys, Bally Kenneth Cole, Thomas Pink, Brooks Brothers, Super Dry and Steve Madden in India.
Reliance Brands had earlier bought out L Catterton Asia’s 40% stake in Genesis Luxury, which gave the company rights over luxury brands like Burberry, Canali, Paul Smith, Armani, Just Cavalli, and Jimmy Choo, among others.
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