Reliance Brands has joined hands with Indian fashion designer Rahul Mishra to set up a fashion business through a joint venture, where Reliance Industries’ subsidiary will own 60 per cent of the label.
The new brand will present an exclusive ready-to-wear collection at one of the global fashion weeks, according to Reliance Brands. The brand will cover other fields, including footwear, home, beauty and jewellery. The joint venture also plans to have a global footprint with flagship stores at fashion capitals in the next five years.
The joint venture came after Reliance Brands’ purchase deal with Indian couture brand Manish Malhotra last October. The company also has equity investments in the Indian fashion label Raghavendra Rathore.
“Accompanied with his expertise in leveraging international fashion forums to accelerate brand building and creating a global customer base, it’s the perfect secret sauce to co-create a global brand. It’s a strategic part of our ongoing commitment to nurture Indian art and culture,” said Isha Ambani, Director of Reliance Retail Ventures.
Rahul Mishra was the first Indian designer to showcase at Paris Haute Couture week. His couture label currently has two flagship stores in India. Rahul Mishra will hold the creative director position at the joint venture to oversee the creative direction of the new brand.
