Reliance Brands has joined hands with Indian fashion designer Rahul Mishra to set up a fashion business through a joint venture, where Reliance Industries’s 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.
Said Mishra: “… their understanding of every aspect of the business process resonates with our vision for growing the vistas for Rahul Mishra Design House,” said Mishra. “Reflecting on the critical and commercial success of Rahul Mishra couture collections, it has been our desire to equally focus on ready to wear business and extend our universe by democratising the fashion cultivated by us.
“With this partnership for the new brand, we are sure of achieving mindful growth while giving the process its due attention and care,” added Mishra.
Reliance Brand’s current portfolio of brand partnerships includes Bottega Veneta, Burberry, Coach, Giorgio Armani, Hugo Boss, Jimmy Choo and Michael Kors. The company operates 1596 doors split into 680 stores and 916 shop-in-shops in India.