Reliance Brands Limited (RBL) will take a 51 percent stake in the 35-year-old designer brand, beloved of both Bollywood stars and billionaires, for an undisclosed sum.
The strategic partnership is aimed at accelerating Abu Jani Sandeep Khosla’s plans for growth in India, as well as in select cities internationally.
“It means massive growth [for us], it means fulfilling our dreams of doing accessories, bags, shoes, perfumes, which none of the brands in India have ever had the opportunity to do,” said Abu Jani Sandeep Khosla co-founder, Sandeep Khosla, of the deal.
The Mumbai-based brand is best-known for its high-end, made-to-measure label, but its eco-system also includes Asal by Abu Sandeep, a diffusion line of occasion and wedding wear; womenswear label Gulabo by Abu Sandeep; as well as Mard by Abu Sandeep, a formal and occasion wear label aimed at men.
“There is the creativity and they are top of the game there, but they have also put together a great platform. The organisation, the people, the karigars [highly-skilled artisans], this sort of supply chain is virtually impossible to replicate,” said RBL managing director Darshan Mehta.
“There’s already a strong business and a strong beating heart of creativity with Abu and Sandeep, it ticks virtually every box,” he added.
Following the completion of this deal, Abu Jani and Sandeep Khosla will continue to lead the design and creative direction of the brand as creative directors.
RBL has equity investments in Indian couture brands Manish Malhotra and recently announced a joint venture with Rahul Mishra. Other companies under the umbrella of RBL parent company Reliance Industries have also been investing in or partnering with Indian designer brands in recent years, including Anamika Khanna and Ritu Kumar.
In the India market, RBL has also built a sweeping portfolio of international fashion brand partnerships with companies including Bottega Veneta, Burberry, Ermenegildo Zegna and Michael Kors. Its physical presence encompasses 1,596 doors split into 680 stores and 916 shop-in-shops around the country.
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Reliance Brands Inks Joint Venture With Indian Designer Rahul Mishra
Indian couture designer Rahul Mishra has inked a deal with the country’s retail giant Reliance Brands Limited (RBL) to launch a ready-to-wear brand focused on international growth.
