Reliance Brands acquires majority stake in designers Abu-Sandeep

Reliance Brands has signed a definitive agreement to invest (either by itself and/or through its affiliates) in couturiers Abu Jani Sandeep Khosla (AJSK) for 51 per cent majority stake.

The strategic partnership is aimed at accelerating the 35-year-old couture house’s growth plans in India and across the globe, Reliance Brands said in its release.

Their fashion house currently features three other labels: Asal by Abu Sandeep, a diffusion, formal, occasion, and wedding wear for women; Gulabo by Abu Sandeep, luxe pret separates, featuring casual and formal wear for women; and Mard by Abu Sandeep, a formal and occasion wear men’s label.

AJSK will continue to lead the design and creative direction of the brand. “Abu Sandeep have been extraordinarily successful for over three decades and it is time their endeavour to present their unabashed vision of luxury reached every nook and cranny of the world, carving a unique space for the brand globally, making them true ambassadors of Indian style”, said Isha Ambani, director, Reliance Retail Ventures (holding company of all retail companies in Reliance Industries group).

The brand will be able to fulfil its ambition of global expansion, said the designers. “With Reliance Brands, a world-class team steering our brand on to the global stage, this is an exciting time for Indian fashion. With this new venture, we hope to permanently place our craft where it belongs, at the best runways and racks across the world,” they said in a media release.

Reliance Brands operates 1,596 doors split into 680 stores and 916 shop-in-shops in India.

The Mukesh Ambani-led retail arm is expanding its presence in the luxury and retail landscape. Last year, it entered into strategic partnerships with investments in Manish Malhotra’s brand and also has an equity investment in fashion designer Raghavendra Rathore’s company and Abraham & Thakore.

Its current portfolio of partnerships include Armani Exchange, Bally, Bottega Veneta, Brooks Brothers, Burberry, Canali, Coach, Diesel, Dune, EA7 Emporio Armani, Ermenegildo Zegna, G-Star RAW, Gas, Giorgio Armani, Hamleys, Hugo Boss,  Reliance Brands also has pertnerships with Hunkemöller, Iconix, Jimmy Choo, Kate Spade New York, Michael Kors, Mothercare, Muji, Paul & Shark, Paul Smith, Pottery Barn, Pottery Barn Kids, Replay, Salvatore Ferragamo, Satya Paul, Steve Madden, Superdry, Scotch & Soda, Tiffany & Co., Tory Burch, Tumi, Versace, Villeroy & Boch, and West Elm.

RELIANCE'S FASHION FORAY

• 40 per cent stake in Manish Malhotra 
• 60:40 joint venture with fashion designer Rahul Mishra to create a new ready-to-wear (pret) business
• Majority stake in Abraham & Thakore Exports
• Reliance Brands and Anamika Khanna agreed to join hands for a 60:40 JV for owning and developing brand AK-OK
• Reliance Brands has equity stake in Raghavendra Rathore
• Has acquired 52% stake in Ritu Kumar