Acquiring a 40% stake, the partnership aims to build the Manish Malhotra brand into a global powerhouse
October 15, 2021: Investing into Indian design & craftsmanship, Reliance Brands Limited (RBL) have announced a strategic partnership with Manish Malhotra, 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 has 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. Manish Malhotra has been a costume stylist for 31 years, and his brand’s design language is brought to life by a team of 700 artisans and professionals, led by Mr. Malhotra himself.
RBL has over 14 years of experience in bringing global luxury to premium brands into India. 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. 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).
The brand Manish Malhotra stands unique at the intersection of fashion and movie entertainment. Thus, expanding the brand into a larger lifestyle consumption portfolio would be a natural next step. The brand also has a significant cache of current and potential consumers across global fashion capitals and onward plans include expansion both in India and international markets. Besides physical retail expansion, the partnership will work on creating a strong technology backbone for the business, developing phygital and experiential ecommerce opportunities.
Completing the costume to couture to institution evolution cycle, the brand will continue to be led by Manish Malhotra, Managing and Creative Director of the brand.