Strategic fashion partnerships have gained quite an impetus in the past few years making it a sort of ‘trend.’ Post Aditya Birla Fashion and Retail Limited’s (ABFRL) investment in designer labels Sabyasachi and Tarun Tahiliani, here comes another powerful duo to rule the fashion circuit.  

In a power move, India’s largest luxury brand, Reliance Brands Limited, a part of Mukesh Ambani- led Reliance Industries Limited (RIL) has announced a forty percent minority stake in couturier Manish Malhotra’s eponymous label MM Styles Pvt. Ltd.

 

 

 

 

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According to RBL’s statement, this strategic union is the ‘first external investment’ for MM Styles. As stated by the designer, “there could have been no better strategic partner to accompany” as the retail brand aims to “international expansion, business diversification, and renewed creative growth”.

RBL, a celebrated luxury giant has cemented its position in the fashion biz with strategic partnerships with high-end brands like Giorgio Armani, Paul Smith and Burberry, Hamleys and many others. It is now focusing on home-grown designer labels to put forth their art, craft and design sensibilities out in the world. Apart from a minority stake in MM Styles, RBL has stakes in two other indigenous labels, Raghavendra Rathore and Satya Paul.

Speaking on this tie-up, Isha Ambani Piramal, Director, Reliance Retail Ventures Ltd, told Business Insider, "Our strategic partnership with Manish Malhotra is anchored on our immense respect for his craft and our deep commitment to Indian art and culture. Recognition and appreciation for Indian couture is at an inflexion point globally and we are excited to partner in this journey with Manish,”

Manish, who started his fashion journey 16 years ago with his namesake label and build it today to what it is, will retain his position as managing and creative director. A sellout of NFTs along with powerful tie-up, seems like there’s no stopping for Bollywood’s most sought-after designer. We can’t wait to see what this strategic partnership brings to the table.

(Source- India Today)