Reliance Brands Ltd. (RBL) announced that it has signed a definitive agreement to invest either itself and/or through its subsidiaries in Couturiers Abu Jani Sandeep Khosla (AJSK) for a controlling 51% stake.
“The strategic partnership aims to accelerate the 35-year-old couture house’s growth plans in India and around the world,” the company said in a statement.
“Working with India’s leading couturiers, who hold an unprecedented position in Indian fashion for their fine craftsmanship and impeccable attention to detail, techniques and embroidery, is exciting as we provide a stronger platform for their zealous commitment to reinventing the Indian crafts,” said Isha Ambani, director of Reliance Retail Ventures Ltd., the holding company for all retail businesses in the Reliance Industries group.
“Inspiration from the old to create with a brand new approach is her gift. Abu Sandeep has enjoyed tremendous success for over three decades and it is about time their quest to showcase their unabashed vision of luxury reached every corner of the globe, giving the brand a unique place worldwide, making them true ambassadors of Indian style might. ” She added.
Abu Jani and Sandeep Khosla will continue to lead the brand’s design and creative direction.
