Mukesh Ambani is dressing up Reliance's acquisition portfolio this festive season. Reliance Brands Limited (RBL) will acquire a 40 per cent stake in Manish Malhotra's design brand in MM Styles Pvt. Ltd. This is the first external investment by Manish Malhotra who has been designing for bollywood for over 3 decades. From designing looks for actors including Sridevi, Kajol, Raveena Tandon, Aishwarya Rai Bachchan to the generation of Kareena Kapoor Khan, Alia Bhatt, Janhvi Kapoor, and many others, Manish has been telling stories through all his creations for years.
This is the most prominent buy by the Reliance Brands in the luxury ethnic wear market though the company did not disclose the deal size. Mukesh Ambani's Reliance already has Satya Paul part of its portfolio and also has invested in Indian menswear designer Raghavendra Rathore’s eponymous label.