Reliance Manufacturers Ltd., a subsidiary of Reliance Retail Ventures Ltd., will put money into the designer label Abu Jani Sandeep Khosla or AJSK for a 51% stake.
The strategic partnership is aimed toward accelerating the 35-year-old couture home’s development plans in India and throughout the globe, Reliance Manufacturers mentioned in its assertion on Tuesday. “With this partnership, the model is dedicated to championing the unbelievable Indian artisans and bringing forth their astonishing craftsmanship on the world stage.”
It would allow the model to place India “as a creator of the best, competing with the best throughout the globe”, the corporate mentioned.
Indian designers Abu Jani and Sandeep Khosla’s namesake designer label started in 1986. The Mumbai-based AJSK at the moment options three different labels together with ASAL by Abu Sandeep, a diffusion, formal, marriage ceremony put on and ladies’s put on label; Gulabo by Abu Sandeep, that includes informal and formal put on for girls; and Mard by Abu Sandeep, a proper and event put on males’s label.
“With the help of Reliance Manufacturers, we will lastly fulfill our ambition of worldwide growth,” mentioned Abu Jani and Sandeep Khosla in a joint assertion.
Mukesh Ambani-owned Reliance Industries Ltd.’s retail unit has been on a buying spree for personal style labels and types for a yr now. Reliance Retail Ltd. lately invested in designer labels reminiscent of Abraham & Thakore, Manish Malhotra, Ritu Kumar, Rahul Mishra, Anamika Khanna and Satya Paul, amongst others, to strengthen the road of life-style manufacturers underneath one umbrella.
That is along with the 50 high-end worldwide manufacturers together with Jimmy Choo, SuperDry, Diesel, Gasoline, Armani, Burberry, Hugo Boss, Tiffany & Co. and others, that the corporate sells in India underneath Reliance Manufacturers. RBL, which is a model licensing arm, operates 680 shops and 916 shop-in-shops throughout India.
“Abu Sandeep have been terribly profitable for over three many years and it’s time that their endeavour to current their unabashed imaginative and prescient of luxurious reached each nook and nook of the world, carving a singular house for the model globally, making them true ambassadors of Indian fashion,” Isha Ambani, director or Reliance Retail Ventures Ltd. mentioned.