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5 Indian fashion designers who have recently sold a majority stake in their companies

Yesterday, Reliance Brands announced a partnership with Indian couturier, Anamika Khanna for her avant-garde label, AK-OK. As the fashion fraternity oohed-and-aahed over this exciting development we look back at the many such joint ventures that took shape this year.

From Sabyasachi to Tarun Tahiliani, 2021 can well be the year of joint ventures with 5 prominent Indian fashion designers partnering with luxury conglomerates. We look back at these stellar business deals, what’s been at stake and what it means for the industry. Plus, the two luxury conglomerates which are battling it out to expand their portfolio with homegrown labels.

5 Indian fashion designers that entered into a joint venture in 2021

 

Sabyasachi x Aditya Birla Fashion and Retail Limited (ABFRL)

Sabyasachi
Image Credit: Rubaina A Khan/ Getty Images

The year, quite literally, began with a bang with the news ABFRL acquiring a 51 per cent stake in brand Sabyasachi. With an investment of rupees 398 crores into Sabyasachi couture, jewellery and other products of the brand, this joint venture sounded a new wave in the world of fashion and business. With Sabyasachi being one of India’s most lucrative design houses, this exciting partnership heralds a new direction for Indian fashion. Previously, ABFRL had also acquired a 51% stake in Shantanu & Nikhil’s label thereby hinting at its intention to extend its portfolio.

 

Tarun Tahiliani x Aditya Birla Fashion and Retail Limited (ABFRL)

In September, ABFRL dropped another bomb by announcing a strategic partnership with designer Tarun Tahiliani. It was announced that the new entity will launch a contemporary men’s ethnic wear brand, which we know now as Tasva. With an aim to 500 crore business and launch 250 stores, this exciting venture is one we are following closely. A majority partnership of 80 per cent in the new label, Tasva and a 33 per cent stake in the existing luxury couture business of Tarun Tahiliani, it was a major fashion/business moment.

 

Manish Malhotra x Reliance Brands Limited (RBL)

Indian fashion designers who have sold a stake
Image Courtesy: Reliance Brands Instagram

Fast forward to October, Reliance Brands, part of the Mukesh Ambani-led Reliance India, picks up a 40% stake in homegrown designer label Manish Malhotra. While the majority stake stays with Malhotra himself, the partnership promises to expand MM Styles (parent company’s name) retail presence in the country. Indian designer labels like Raghuvendra Rathore and Satya Paul are already a part of Reliance’s coterie alongside over 60 international brands that are present in India.

 

Ritu Kumar x Reliance Retail Ventures Limited (RRVL)

Just a few days after the news of the joint venture between Manish Malhotra and Reliance Brands we came across the news of veteran designer Ritu Kumar entering into a partnership. Reliance Retail Ventures Limited (RRVL) acquired a 52% equity stake in the designer’s eponymous business. The acquisition includes all brands under the umbrella of Ritika Pvt. Ltd. such as Ritu Kumar, Label Ritu Kumar, RI Ritu Kumar, aarké and Ritu Kumar Home and Living.

 

Anamika Khanna x Reliance Brands Limited (RBL)

This brings us back to the recent announcement of Reliance Brands Limited (RBL) joining hands with Anamika Khanna for a 60:40 joint venture. Focused on AK-OK, the new partnership is sure to expand the brand’s global portfolio with Anamika Khanna continuing as Creative Director for AK-OK.

While the news of these fashion joint ventures continue to lead us into 2022, we are excited to predict and learn what the future holds for these brands.

 

Header Image: Courtesy Reliance Brands Limited. Featured Image: Courtesy Tasva. 

Akshita Nahar Jain
Sr Associate Editor
Akshita Nahar Jain has worked with various publications, including Elle, Harper’s Bazaar Bride, and Time Out Delhi, and written extensively on fashion and lifestyle. A sucker for alliteration and stylish sitcoms, she enjoys scrolling the web for less travelled destinations.
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