New Delhi: Adding Indian designer brand portfolios, Reliance Brands has taken a 60% stake in the Couturier Brand Anamika Khanna’s AK-OK.
The agreement does not include the main line of Khanna and he will remain in the AK-OK creative director.
Reliance Brands, through a joint venture 60:40, has a plan to expand the trace of the brand globally.
“As the largest luxury retailer in India, reliance learning from operating extensive retail networks throughout the group company and the experience of building a varied luxury portfolio for premium brands will come well to direct AK-OK as one of the best-known brands brands Global, “Khanna said.
The agreement with the dependence came on the heel took a bet on other Desi Couture brands such as Ritu Kumar and Manish Malhotra, especially at the time of Aditya Birla Fashion Retail (ABFL) as well, had been shopping.
ABFRL gets bets in ethnic clothing brands such as Tarun Tahiliani, Sabyasachi and Jaypore.
With Covid’s related locking which resulted in poor sales for Indian designer brands, people said in the industry, partnering with companies with bags in such a reliance or ABFL brand was the only way to stay.
“Most of the deal you have witnessed in the room recently came at a very low price for this retail giant,” said an industrial senior executive, who did not want to be named.
“Indian designers do not have a scale and operate from several boutique stores.
This kind of partnership does not only mean new capital but brand expansion too.”