Reliance Brands inks pact with Manish Malhotra
Reliance Brands Limited, to pave way towards home-grown talent rooted in Indian designers, has announced a strategic partnership with Manish Malhotra.
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Hyderabad Reliance Brands Limited, to pave way towards home-grown talent rooted in Indian designers, has announced a strategic partnership with Manish Malhotra aiming at accelerating the 16-year-old couture house's growth plans in India and across the globe. RBL has signed a definitive agreement to invest in founder and creative director, Manish Malhotra's eponymous brand for a 40 per cent minority stake.
The partnership will work on creating a strong technology backbone for the business, developing phygital and experiential ecommerce opportunities
"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).
The Brand was launched in 2005, which extends luxury-retail footprint across four flagship stores in Mumbai, New Delhi, and Hyderabad, besides an elaborate virtual store and over 12 million social followers across various channels. As a costume stylist for 31 years, the brand's design language is brought to life by a team of 700 artisans and professionals, by Malhotra himself.
Speaking about the development, Manish Malhotra said: "From the largest luxury couture stores in Delhi and Hyderabad; the launch of India's first couture virtual store; and redefining glamour at Indian weddings, I have always aimed to set benchmarks across the life of the brand. 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."
