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India's Reliance Brands to acquire 40% in Manish Malhotra's MM Styles
18 Oct 21 1 min read
India’s Reliance Brands recently signed an agreement to acquire a 40 per cent stake in fashion designer Manish Malhotra's MM Styles Private Limited. This would be the first external investment for Malhotra's brand that until now was exclusively held by him. The designer would continue to lead the company as the managing and creative director of the brand.
"As the brand (Reliance) aims for international expansion, business diversification, and renewed creative growth, there could have been no better strategic partner to accompany us on this journey," Malhotra said in a statement.
Besides physical presence in the form of retail stores, the two entities would work to further scale up the designer's technological backbone for e-commerce expansion.
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The designer operates four flagship stores in New Delhi, Mumbai and Hyderabad, two store-in-stores and a virtual store.
Fibre2Fashion News Desk (DS)
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