Reliance Brands eyes acquisition

Reliance Brands, a subsidiary of Mukesh Ambani-led Reliance Retail, is scouting for acquisition in the domestic market, besides launching its own luxury label in the next 18 months.

The company, which at present predominantly focuses on the men’s range, plans to also go for women and kidswear categories.

“We have become serious about launching our own brand and have already started work on that and dedicating resources on the same. If everything goes as planned, in the next 18 months it should get going,” Reliance Brands President and CEO Darshan Mehta said.

The company is also in discussions with some Indian companies operating in apparel, footwear and accessories space for an acquisition.

 

“The due diligence is on for the acquisition,” Mehta said, without specifying details.

When asked what would be the focus of the company in case of an acquisition or launch of an own label, Mehta said women and children were the two categorie, which could be looked at. Launched in 2007, Reliance Brands has joint ventures with Diesel, Zegna and Timberland. It is also a licensee for Italy’s fashion brand, Paul & Shark.