Reliance Brands is in talks to buy a stake in American luxury fashion retailer Prabal Gurung’s premium lifestyle label and set up its exclusive luxury flagship stores in India. Gurung, a Nepalese-American fashion designer, launched his line in 2009 at the New York Fashion Week and is known for dressing up celebs such as Sarah Jessica Parker, Michelle Obama and Anne Hathaway.
Leading business daily The Economic Times has reported that Reliance Brands is adopting a flanking strategy, by partnering with fashion labels across ethnicwear, westernwear and wedding lines. The labels will straddle its physical stores and e-commerce platforms.
Though both of the organisations have not confirmed this development.
It is worth mentioning here that Reliance Brands’ stakes in designer Manish Malhotra’s label is 40 per cent apart from a majority stake in couture brand Abu Jani Sandeep Khosla. It also has strategic partnerships with other Indian designers.
Established in 2007, Reliance Brands Limited has brought over 50 international brands to India over the years, in a bid to dominate the luxury lifestyle market in the country.
The move to partner couture designers is part of the larger plan to stay ahead of rivals in the luxury segment and tap into global markets.
