Reliance acquires 40% stake in designer brand MM Styles

Reliance Brands says the investment is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe.

A Reliance Brands statement said this is the first "external investment" for the brand, which had so far been privately held by the designer. It said the investment is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe.

Fashion designer Manish Malhotra said 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, the Manish Malhotra luxury retail is spanned across four flagship stores in Mumbai, New Delhi, and Hyderabad, 2 SIS, besides a virtual store and over 12 million social followers across various channels.

"While Manish Malhotra's signature glamour has its genesis 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 Mr Malhotra himself," the statement said.