Reliance Brands Ltd (RBL), a subsidiary of Reliance Industries Ltd (RIL), said on Friday that it has inked a deal to buy a 40% interest in MM Styles Pvt Ltd, which owns fashion designer Manish Malhotra’s namesake label.
This is the first outside investment in Manish Malhotra’s brand, which was previously owned solely by the designer.
“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,” said Isha Ambani, Director, Reliance Retail Ventures Ltd (holding company of all retail companies in RIL group).
Recognition and appreciation for Indian couture is at an inflexion point globally and we are excited to partner in this journey with Manish,” she added.
According to an official release, Manish Malhotra and RBL have teamed together to turn the ‘Manish Malhotra’ brand into a worldwide couture powerhouse.
“The coming together of the country’s leading couture house and foremost luxury conglomerate aims to develop a corporate framework that sustains Manish Malhotra’s legacy for generations to come,” it said.
