In order to establish exclusive luxury flagship stores at its Jio World malls, Reliance Brands is in discussions to acquire a stake in American luxury apparel retailer Prabal Gurung’s premium lifestyle brand.
Gurung, a fashion designer of Nepalese and American descent, is well-known for dressing celebrities like Michelle Obama, Sarah Jessica Parker, and Anne Hathaway. During New York Fashion Week in 2009, he introduced his own line.
A executive who do not wish to be named, said, “Reliance Brands is adopting a flanking strategy, by partnering with fashion labels across ethnic wear, western wear and wedding lines. The labels will straddle its physical stores and e-commerce platforms.”
In addition to owning a majority ownership in the fashion company Abu Jani Sandeep Khosla, Reliance Brands also has a 40% investment in the Manish Malhotra label. Additionally, it collaborates strategically with other Indian designers. The decision to collaborate with couture designers is a part of a bigger strategy to get an advantage over rivals in the premium industry and penetrate international markets.
The company is rivalled by Aditya Birla Fashion & Retail, which has been investing in fashion brands as well.
- Finance & Economy2023.03.18Here’s Everything You Need to Know About Smart Account
- Events Updates2023.02.27ABWA Students Showcase Their Artistic Talent And Dedication To Community Service Through Successful Fundraising Events
- Research&Technology2023.02.25hycuTEC the focus of many discussions at the FILTECH trade fair
- Market Reports2023.02.25Electric Vehicle Fluids Market worth USD 8,644 million by 2030