Designers Abu Jani and Sandeep Khosla with President and Chief Executive of Reliance Brands Limited Darshan Mehta. (Photo Courtesy: Corporate Communications, RIL)
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Mumbai, April 19 (MExN): The Reliance Brands Limited (RBL) has signed a “definitive agreement” to invest in renowned fashion designer Abu Jani Sandeep Khosla (AJSK) for a 51% majority stake.
The investment, to be made either by RBL or through its affiliates, is a strategic partnership is aimed at accelerating the 35-year-old couture house’s growth plans in India and across the globe, informed a media release from the Reliance Industries Ltd (RIL).
Based in Mumbai, Abu-Sandeep are India's premier couturiers, who began their design legacy in 1986 and the label AJSK is “internationally feted for its cutting-edge quality and classically elegant style. Each ensemble is a delicate mélange,” it said.
The last three decades have seen them establish an enviable reputation as pioneers in resurrecting the best of the past and fashioning it for the future, it added.
“Teaming up with India’s foremost couturiers, who hold an unparalleled position in Indian fashion for their fine craftsmanship and impeccable attention to detail, techniques and embroideries is thrilling, as it allows us to build a stronger platform for their zealous commitment to reinvention of Indian craft, Isha Ambani, Director, Reliance Retail Ventures Ltd, a holding company of all retail companies in RIL group, was quoted as saying regarding the partnership.
“…It is time that their endeavour to present their unabashed vision of luxury reached every nook and corner of the world, carving a unique space for the brand globally, making them true Ambassadors of Indian Style”, she added.
“With the support of Reliance Brands, we will be able to finally fulfill our ambition of global expansion… With this new venture we hope to permanently place our craft where it belongs, at the best runways and racks across the world,” stated Abu-Sandeep.
They will continue to lead the design and creative direction of the brand, the release added.
RBL is a subsidiary of Reliance Retail Ventures Ltd and began operations in 2007 with a mandate to launch and build global brands in luxury to premium segments across fashion and lifestyle.
Currently, it operates 1,596 doors split into 680 stores and 916 shop-in-shops in India and RBL marked its first international foray by acquiring the British toy retailer, Hamleys in 2019.
RBL has also invested in building and operating homegrown Indian designer brands, the release added.
