Reliance Brands buys 40% stake in Manish Malhotra’s MM Styles

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Manish Malhotra and Reliance Brands Limited (RBL) have announced a strategic partnership aimed at accelerating the 16-year-old couture house’s growth plans in India and across the globe.

RBL has signed a definitive agreement to invest in founder and creative director, Manish Malhotra’s eponymous brand for a 40% minority stake.

This is the first external investment for the brand, which had so far been privately held by the designer.

Launched in 2005, the Manish Malhotra luxury-retail footprint extends across 4 flagship stores in Mumbai, New Delhi, and Hyderabad, 2 SIS, besides an elaborate virtual store and over 12 million social followers across various channels.

As India’s largest luxury retailer, RBL has over 14 years nurtured and grown global luxury to premium brands in the country. However, as upcoming consumption power steadily moves from west to east, the fashion and design sensibilities are not far behind. Recognising these winds of change, RBL in its next wave of value creation, is setting sight towards home-grown talent rooted in Indian design sensibilities.

“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,” said Isha Ambani, Director, Reliance Retail Ventures Ltd.

Speaking about the development, Manish Malhotra said: “From the largest luxury couture stores in Delhi and Hyderabad; the launch of India’s first couture virtual store; and redefining glamour at Indian weddings, I have always aimed to set benchmarks across the life of the brand.”

Since the inception of his brand in 2005, Manish has continually reimagined Indian couture and its presentation.

From having introduced the concept of ‘showstoppers’ on Indian runways to bringing a new palette of colours for the Indian neo-bride, Manish Malhotra has built a cult following among royalty, stars and couture-lovers alike. He recently became the first Indian designer to present his designs in NFT form.