02 February 2022, Mumbai:
Rahul Mishra, a well-known Indian couture designer, has teamed up with Reliance Brands Limited (RBL) to establish a ready-to-wear line aimed towards international expansion.
For an unknown fee, RBL, a renowned retail conglomerate, has acquired a 60% part in the new joint venture, which will see the brand establish flagship locations in key cities over the next five years.
The partnership aims to capitalize on the designer's experience to launch a new worldwide brand that will include accessories, footwear, home, cosmetics, and jewelry, as well as ready-to-wear.
"We have watched Rahul's career for years, so it was never a matter of whether but when," said Darshan Mehta, MD and Chief Executive, RBL.
People frequently form partnerships to check a box or, to put it bluntly, to win a trophy, but we have spent a lot of time considering mutual respect and what we each contribute to the table."
"It was critical to back our capabilities with a firm with which we can co-create something based on their established skills and philosophy," Rahul Mishra said. The (new) brand will be simple, modern, and edgy, and I am confident that in a short period of time, we will have created a worldwide universe."
Manish Malhotra, Anamika Khanna, and Ritu Kumar are among the Indian designer labels that Reliance has been adding to its portfolio (through Reliance Retail Ventures).
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