Reliance Brands Limited (RBL) has announced a strategic partnership aimed at accelerating the growth plans of designer Manish Malhotra’s 16-year-old luxury label in India and across the globe. RBL has signed a definitive agreement to invest 40 per cent minority stake in the brand named after founder and creative director Manish Malhotra. This is the first external investment for the brand, which until now was held privately with the designer.
Launched in 2005, Manish Malhotra’s luxury-retail footprint is spread across four flagship stores in Mumbai, New Delhi and Hyderabad, apart from an expansive virtual store and over 12 million social followers across various channels. While Manish Malhotra’s signature glamor has its origins in the founder’s career as a costume stylist for 31 years, the brand’s design language is brought to life by a team of 700 artisans and professionals, led by Malhotra himself. are doing.
RBL, in its next wave of value creation, is eyeing homegrown talent rooted in Indian design sensibility. “Our strategic partnership with Manish Malhotra is based on our utmost 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 agile and ahead of his time. The recognition and appreciation for Indian apparel is at a new juncture globally and we are excited to partner with Manish on this journey.” Isha Ambani, director, Reliance Retail Ventures Limited (the holding company of all retail companies in the Reliance Industries Limited group) said.
The coming together of the country’s leading couture houses and leading luxury conglomerates aims to develop a corporate framework that sustains the Manish Malhotra legacy for generations to come. The Manish Malhotra brand is unique at the intersection of fashion and film entertainment. Thus, expanding the brand to a larger lifestyle consumption portfolio would be a natural next step. The brand has a significant cache of current and potential consumers in global fashion capitals and further plans include expansion in both India and international markets. In addition to physical retail expansion, the partnership will work on developing physical and experiential e-commerce opportunities, creating a strong technology backbone for the business.
Speaking about the development, Manish Malhotra said: “From the biggest luxury clothing stores in Delhi and Hyderabad; India’s first couture virtual store launched; And redefining glamour in Indian weddings, I have always aimed to set the standard in the life of the brand. The association with Reliance Brands Limited 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 at international expansion, business diversification and renewed creative growth, there could be no better strategic partner to accompany us on this journey. “
Designer Manish Malhotra (R) with Darshan Mehta, MD & CEO – Reliance Brands Ltd. (Photo: Prasad Naik)
Completing the outfit in line with the development cycle of the institute, the brand will be led by Manish Malhotra, Managing and Creative Director of the brand.
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