Reliance Brands to pick up 40% stake in Manish Malhotra's MM Styles

The designer firm will use the investment to expand to global markets, said a statement from the company

Reliance Brands Ltd (RBL) will pick a 40 per cent minority stake in renowned fashion designer Manish Malhotra's MM Styles Pvt Ltd, for an undisclosed sum, the two companies said on Friday.

This is the first external investment for the brand, which had so far been privately held by the designer. The strategic partnership is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe, they said in a joint statement.

"RBL has signed a definitive agreement to invest in founder and creative director Manish Malhotra's eponymous brand for a 40 per cent minority stake,"