Reliance Brands Ltd. is ready to take a 40% minority stake in the renowned designer Manish Malhotra’s company MM Styles Pvt. Ltd for an undisclosed sum, an official statement highlighted.
The aim behind this agreement is to accelerate the growth of a 16-year old fashion company and help it expand in India as well as globally, the statement highlighted. The statement added “RBL has signed a definitive agreement to invest in founder and creative director Manish Malhotra’s eponymous brand for a 40% minority stake.”
Isha Ambani, Director, Reliance Retail Ventures Ltd commented on this matter “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.”
She further added “Recognition and appreciation for Indian couture is at an inflexion point globally and we are excited to partner in this journey with Manish.”
Manish Malhotra commented on this new announcement “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.”