New Delhi
Reliance Brands Ltd (RBL) on Tuesday said it will acquire a majority stake of 51 per cent in leading couture house Abu Jani Sandeep Khosla (AJSK) for an undisclosed amount.
The Reliance group firm has signed a definitive agreement to invest either by itself or through its affiliates in AJSK, as per a joint statement.
“The strategic partnership is aimed at accelerating the 35-year-old couture house’s growth plans in India and across the globe,” it said.
Abu Jani and Sandeep Khosla will continue to lead the design and creative direction of the brand, it added.
“With this new partnership, the brand is committed to championing the incredible Indian artisans and bringing forth their astonishing craftsmanship on the world stage. This renewed focus will enable the brand to position India as a creator of the finest, competing with the finest across the globe,” it said.
Based in Mumbai, Abu Jani and Sandeep Khosla are India’s premier couturiers. Their design legacy began in 1986. Their couture label Abu Jani Sandeep Khosla is internationally feted for its cutting-edge quality and classically elegant style.
The fashion house currently features three other labels — ASAL by Abu Sandeep, a diffusion, formal, occasion and wedding wear, womenswear label, GULABO by Abu Sandeep, luxe pret separates, featuring casual and formal wear for women and MARD by Abu Sandeep, a formal and occasion wear men’s label.
Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said, “Teaming up with India’s foremost couturiers, who hold an unparalleled position in Indian fashion for their fine craftsmanship and impeccable attention to detail, techniques and embroideries is thrilling, as it allows us to build a stronger platform for their zealous commitment to reinvention of Indian craft.
