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Reliance Brands acquires 40% stake in luxury designer Manish Malhotra's MM Styles

MUMBAI, Oct 16: The Reliance Brands Ltd (RBL) of Mukesh Ambani's Reliance Industries Ltd has acquired 40 per cent stake in designer Manish Malhotra's MM Styles Pvt Ltd, according to a Reliance Brands statement.

The “strategic partnership” deal is the first “external investment” for the eponymous brand, MM Styles Pvt Ltd, which was launched in 2005 and has been privately held. The MM Styles luxury retail has flagship stores in Mumbai, New Delhi and Hyderabad. Besides, it has a virtual store and over 12 million social followers.

“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.

"Recognition and appreciation for Indian couture is at an inflexion point globally and we are excited to partner in this journey with Manish.” said Isha Ambani, Director, Reliance Retail Ventures Ltd (holding company of all retail companies in Reliance Industries Limited group).

Manish Malhotra said: “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.”

The brand plans include expansion both in India and international markets. The consumption portfolio is expected to diversify. The partnership will bring technology to the brand which will also boost e- commece. It already has valuable customers in global fashion hubs.

According to reports, Reliance was also in talks to acquire Ritu Kumar's brand. Earlier Aditya Birla Fashion and Retail Limited had bought 51 per cent stake in designer brand Sabyasachi.

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