- 20 Apr 2022
- ICICIdirect Research
Reliance Brands plans to take controlling stake in Abu Jani Sandeep Khosla couture brand
RELIANCE - 3019 Change: -22.60 (-0.74 %)News: As per media reports, Reliance Brands (RBL) will acquire a majority stake of 51% in leading couture house Abu Jani Sandeep Khosla (AJSK) for an undisclosed amount
Views: Earlier this year in January, RBL [subsidiary of Reliance Retail Ventures (RRVL)] had partnered Rahul Mishra to create a new fashion label and last year, it had invested in Manish Malhotra’s brand. With acquisition of stake in Abu Jani Sandeep Khosla couture brand, RBL, will be able strengthen its play in the fast growing luxury and retail landscape. The buyouts and stake purchases in Indian designers are part of Reliance’s plans to shore up its ethnic labels portfolio. Reliance is looking to sell these famous labels not only to the fashion savvy Indian consumers but also to position them in the global market and capture a share of the global fashion retail pie
Impact: Positive