Mumbai: Reliance Brands Ltd. (RBL) MM Styles Pvt Ltd., owned by renowned fashion designer Manish Malhotra. will acquire a 40 percent minority stake in Both companies that gave this information on Friday. However, the deal price has not been disclosed. This is the first outside investment for MM Styles, which was hitherto privately owned by the designer. The strategic partnership aims to fuel the growth plan of the 16-year-old company (MM Styles) in India and around the world, the two companies said in a joint statement.
“RBL has signed a definitive agreement to invest 40 percent minority stake in a brand named after founder Manish Malhotra,” the statement said. Commenting on the investment, Isha Ambani, Director, Reliance Retail Ventures Limited, said that the company is excited to partner with Manish Malhotra in this journey.
Reliance Retail Ventures Limited is the holding company of all the retail companies of the Reliance Industries Limited Group.
