Reliance has made its presence felt in almost every sector. Reliance has been successful in many sectors like telecommunication, grocery, fuel, media. A few years ago, Reliance also entered the fashion industry through its brand ‘Ajio’. Reliance Industries Limited (RIL), which is owned by Mukesh Ambani, is all set to make a major investment in the third largest fashion brand in just one year. Reliance Brands Limited (RBL), a subsidiary of RIL, said on Tuesday that Reliance would soon buy a 51 per cent stake in fashion house Abu Jani Sandeep Khosla (AJSK).
According to a joint statement issued by the two companies, RBL has signed an agreement to invest in AJSK on its own or through its subsidiary. The amount of the contract has not yet been disclosed. Despite Reliance’s 51 per cent stake in AJSK, Abu Jani and Sandeep Khosla will be in charge of the brand’s design and creative divisions.
The third fashion brand purchased in one year
Reliance has now decided to become the country’s largest company in the fashion sector. For this, in just one year, the company has bought shares of three of the country’s leading fashion brands. Last year, Reliance had invested in the brand of Manish Malhotra, a well-known face in the fashion world. In October 2021, Reliance Retail bought a 52 per cent stake in Ritika Pvt Ltd, a company owned by fashion designer Ritu Kumar. Not only that, the company had partnered with fashion designer Rahul Mishra in early 2022 to create a new fashion label.
AJSK has three famous fashion labels
The brand of Abu Jani and Sandeep Khosla is known for its modernity and quality. His three fashion labels, ASAL, Gulabo and Mard, have made a name for themselves worldwide. The ASAL label presents wedding dresses for women, while the label Gulabo is popular for women’s formal wear. Men’s formal and wedding dresses are presented through the label Mard.
Indian art will reach the corners of the world
Isha Ambani, Director, Reliance Retail, said, Through this partnership, the old brand will get a new platform and we can take Indian art to the corners of the world. ‘ Abu Jani and Sandeep Khosla have expressed happiness over the partnership with Reliance. He said, “For the last 35 years, we have been reaching out to the fashion people associated with Indian culture. Now by joining Reliance, our ambitious goal will be achieved even more broadly. Now Indian art and culture will be taken to the whole world in the form of fashion. ‘
Abu Jani and Sandeep Khosla are the legendary names in the fashion world. Reliance has now joined hands with them. It remains to be seen what this partnership will do.