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Reliance buys 52% stake in Ritu Kumar’s fashion label

On Tuesday the company stated that the retail unit of Indian conglomerate Reliance Industries has taken over 52% of the very well-known designer labels of Ritu Kumar in the latest bet on the country’s fastest expanding luxury designer market.

The best known for her ethnic design Kumar who runs her flagship, namesake brand. Her list of customers includes the top Bollywood diva’s such as Aishwarya Rai Bachhan and Priyanka Chopra.

According to her websites, some of her wedding outfits are priced as high as 800,000 rupees (₹ 10,660)

Popular Indian designer Manish Malhotra fashion house, Reliance took 40% stake from the fashion house in the last week. Also in January Aditya Birla Fashion & Retail bought a 51% stake in Sabyasachi’s brand, which is currently known for its high-end wedding wear.

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India’s retail and luxury market are making a comeback after being battered by the pandemic. With rising pent-up demand, Darshan stated “India’s ongoing festive season is possibly going to be the finest as the consumption will surge in the next four to five months.

According to the information, the country’s largest retailer, run by billionaire Mukesh Ambani, Reliance Retailer also partners with brands that operate globally, including Burberry and Jimmy Choo joint ventures and its franchises.

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