Advertisement
Monday, Dec 06, 2021
Outlook.com
Outlook.com

Reliance Brands Acquires 40 Per Cent Stake In Manish Malhotra's Company

According to the press statement released on Friday evening, this would be the first external investment for Malhotra's brand which until now was exclusively held by him.

Reliance Brands Acquires 40 Per Cent Stake In Manish Malhotra's Company
Reliance Brands Acquires 40 Per Cent Stake In Manish Malhotra's Company
outlookindia.com
2021-10-15T20:59:06+05:30

Reliance Brands signed a definitive agreement to acquire a 40 per cent stake in fashion designer Manish Malhotra's MM Styles Private Limited. According to the press statement released on Friday evening, this would be the first external investment for Malhotra's brand which until now was exclusively held by him. 

The designer would continue to lead the company as the managing and creative director of the brand. 

Reliance Retail Ventures is the holding company of all retail companies in Reliance Industries Ltd.

The coming together of Reliance Retail and Manish Malhotra's label has been described as a foray into a larger lifestyle consumption portfolio. The designer's reputation which extends to global fashion capitals and onward would be used to further the brand's presence in India and internationally. Besides physical presence in the form of retail stores, the two entities would work to further scale up the designer's technological backbone for e-commerce expansion. 

At present, the designer operates four flagship stores in Mumbai, New Delhi and Hyderabad, two SIS (store-in-store) and a virtual store.

 "As the brand (Reliance) aims for international expansion, business diversification, and renewed creative growth, there could have been no better strategic partner to accompany us on this journey," Malhotra said. 

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Putin Sends Out A Strong Message By Coming For A In-Person Meeting With PM Modi

Putin Sends Out A Strong Message By Coming For A In-Person Meeting With PM Modi

Prime Minister Modi and Vladimir Putin have a clear vision of the India-Russia relations and are unlikely to be battered by ties with third countries (China-Russia or India-US).

Nagaland Ambush: Clamour Grows For Revocation Of AFSPA As Death Toll Touches 15

Nagaland Ambush: Clamour Grows For Revocation Of AFSPA As Death Toll Touches 15

Nagaland civilian killings are likely to derail the peace process at a time when New Delhi was fast-tracking talks with several political groups in the insurgency-hit region.

Analysis: Why Dravid's Stress On Injury, Mental Health Management Will Be A Masterstroke

Analysis: Why Dravid's Stress On Injury, Mental Health Management Will Be A Masterstroke

Indian cricket team's new head coach Rahul Dravid is happy that new players took their opportunities in the India vs New Zealand series that the hosts won 1-0 in Mumbai.

Liberation Of Bangladesh: India Observes 'Maitri Diwas' To Mark 50 Years Of Friendship

Liberation Of Bangladesh: India Observes 'Maitri Diwas' To Mark 50 Years Of Friendship

India and Bangladesh are jointly observing 'Maitri Diwas' to commemorate 50 years of the Bangladesh Liberation War 1971 and India's role in the neighbouring nation's freedom struggle.

Advertisement