Companies

Reliance Brands to acquire 40% stake in Manish Malhotra brand

Our Bureau Mumbai | Updated on October 16, 2021

Manish Malhotra

Reliance group firm is setting sight on home-grown talent rooted in Indian design sensibilities

Reliance Brands Limited (RBL) has signed a definitive agreement to invest in founder and creative director, Manish Malhotra’s brand for a 40 per cent stake. This is the first external investment for the brand, which had so far been privately held by the designer.

Launched in 2005, the Manish Malhotra luxury-retail footprint extends across four flagship stores in Mumbai, New Delhi, and Hyderabad.

RBL, in its next wave of value creation, is setting sight on home-grown talent rooted in Indian design sensibilities, said a press statement.

“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 man behind the brand, has always been nimble and ahead of his times.

Recognition and appreciation for Indian couture is at an inflexion point globally and we are excited to partner in this journey with Manish.” said Isha Ambani, Director, Reliance Retail Ventures Ltd (holding company of all retail companies in Reliance Industries Limited group).

Speaking about the development, Manish Malhotra said: “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.”

Indian luxury designer brands are being sought after by larger retail companies. Reliance was also in talks to acquire Ritu Kumar's brand. Earlier this year Aditya Birla Fashion and Retail Limited had bought a 51 per cent stake in India’s biggest luxury designer brand Sabyasachi in January, tapping the ethnicwear market.

Published on October 15, 2021

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