Reliance Brands Ltd. to Acquire 40% Stake in Manish Malhotra’s MM Styles
Mukesh Ambani’s Reliance Industries Ltd’s subsidiary company Reliance Brands Limited (RBL) has agreed to buy a 40% share in a company owned by fashion designer Manish Malhotra, MM Styles Private Ltd. Manish Malhotra and Darshan Mehta, the President and CEO of RBL have formed a strategic alliance to help the 16-year-old couture house achieve its worldwide expansion goals faster.
Since MM Styles Private Ltd’s inception in 2005, the brand was solely owned by Manish Malhotra, and this is the brand’s first external investment. The 54-year-old designer stated that there could have been no greater strategic partner to accompany him and his brand on this journey than Reliance. The reason being: the brand is seeking overseas expansion, diversification in the business, and revamping the creative growth side.
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Now, overall the acquisition may turn out to be average. From an astrological point of view, the 40% stake given maybe just for the purpose to expand in international waters. According to Manish Malhotra’s solar chart, a future loss might be there because of this acquisition. Whereas in Darshan Mehta’s horoscope too it can be seen that there might not really be much of a gain for Reliance Brands Ltd. The strategic move was just to bolster Reliance’s portfolio of homegrown designer labels and expand its luxury brands umbrella. Or maybe it was a power move to compete with its rivals Aditya Birla, Tata Group, and Adani & Grasim Industries.
Manish Malhotra’s brand is one-of-a-kind and stands uniquely at the intersection of Fashion & Entertainment so for him, it was a natural step to expand the brand’s portfolio next. The brand also has a large database of existing and future customers in major fashion cities across the world. The stylist and entrepreneur will continue to drive the brand as its managing and creative director.
But whatever the reason might be, this purchase deal of India’s leading bridal wear brand with the multinational corporation surely does aim to develop a corporate framework that will sustain Manish Malhotra’s legacy for generations to come.
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