Rahul Mishra, leading Indian couture designer, has joined hands and inked a deal with the Reliance Brands Limited (RBL) to launch a ready-to-wear brand focused on international growth.
RBL, a leading retail giant, has taken a 60 per cent stake in the new joint venture for an undisclosed sum that will see the brand open flagship stores in major cities within the next five years.
The deal is aimed at leveraging the designer’s expertise and create a yet to be named new global brand that will span accessories, footwear, home, beauty and jewellery in addition to ready-to-wear.
Darshan Mehta, MD and Chief Executive, RBL said, “We have followed Rahul’s journey for years so it was never to my mind a question of whether but when. Very often people get into partnerships because they want to tick a box, or to put it crudely, pick up a trophy, but we have spent a lot of time thinking about mutual respect and what we both bring to the table.”
Rahul Mishra commented, “It was very important to back our strengths with a company we can co-create something based on their proven expertise and philosophies. The (new) brand will be easy, modern and edgy and I am sure we will create a global universe in a very short time.”
Reliance has been expanding its portfolio of Indian designer brands including those from Manish Malhotra, Anamika Khanna and Ritu Kumar (through Reliance Retail Ventures).
