The Business Bytes
TBB BUREAU
MUMBAI, JANUARY 31, 2022
Reliance Brands Limited (RBL) on Monday said it has inked a deal with designer Rahul Mishra to launch ready-to-wear business through a joint venture.
RBL, which will hold 60 per cent in the venture, plans to open flagship stores in major fashion capitals within the next five years.
Joining forces with the designer, the new brand would be synonymous with excellence and creativity world over, presenting an exclusive Ready to Wear Collection at one of the global fashion weeks. The brand will grow both vertically and horizontally to cross pollinate creativity further in the fields of accessories, footwear, home, beauty, and jewellery for a worldwide audience.
Rahul Mishra will lead the creative direction of the new brand as Creative Director.
“Rahul Mishra’s flawless contemporary design sense and stunningly intricate pieces have spotlighted Indian expertise in crafts globally. 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, Reliance Retail Ventures Ltd. (holding company of all retail companies in Reliance Industries Limited group).
Beginning with the inception of a unique brand identity with a voice of its own, combined with a strategy to launch on an international fashion week platform, the new brand will anchor on Rahul’s exceptional design expertise coupled with RBL’s retail playbook for end-to-end value creation, ushering a game changing new era in global fashion. The intent is to have a worldwide footprint with dedicated flagship stores at fashion capitals around the world in the next 5 years.
“We are excited to have the wonderful opportunity via this JV to partner with the market leader Reliance Brands that brings with it a strong know-how in management of the luxury and retail landscape. The care they take to nurture the growth of some of the world’s best luxury brands, their understanding of every aspect of the business process resonates with our vision for growing the vistas for Rahul Mishra Design House. 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,” said Rahul Mishra.
