Reliance Brands buys 40% stake in designer Manish Malhotra’s MM Styles: Reports

In a “strategic partnership”, Reliance Brands Limited, part of Mukesh Ambani-led Reliance Industries Ltd, acquired 40 per cent stake in famous designer Manish Malhotra's MM Styles Pvt Ltd.

Reliance Brands Ltd (RBL), part of Mukesh Ambani-led Reliance Industries Ltd, acquired 40 per cent stake in famous designer Manish Malhotra's MM Styles Pvt Ltd. According to a Reliance Brands statement, this “strategic partnership” is the first “external investment” for MM Styles Pvt Ltd.

Manish Malhotra said “there could have been no better strategic partner to accompany” the luxury retail that was aiming for “international expansion, business diversification, and renewed creative growth”.