Reliance Brands, a subsidiary of Reliance Industries Limited, is currently in discussions to acquire a stake in the fashion designer Prabal Gurung’s brand. This potential partnership could pave the way for the opening of physical stores for Gurung’s label in India’s Jio World malls, which are owned by Reliance Industries.
According to an anonymous executive familiar with the matter, Reliance Brands is pursuing a smart strategy by collaborating with fashion labels that specialize in ethnic wear, western wear, and wedding lines. By forging these partnerships, Reliance Brands aims to cater to both physical retail and e-commerce platforms to meet the demand from affluent Tier 2 markets and drive aspirational shopping.
While there has been no official statement from Reliance Brands regarding the potential acquisition, the company has recently formed strategic partnerships with luxury clothing brands such as Manish Malhotra and Anu Jani Sandeep Khosla. This demonstrates Reliance Brands’ commitment to providing financial support to couture brands, enabling them to venture into ready-to-wear and casual wear categories. This strategic move aligns with the growing purchasing power of Gen Z shoppers and the increasing demand for branded apparel in India.
Prabal Gurung, a Nepalese-American designer, introduced his eponymous brand during New York Fashion Week in 2009. He has gained recognition for his glamorous evening wear and has dressed prominent figures such as former US First Lady Michelle Obama and actress Anne Hathaway. If the partnership with Reliance Brands comes to fruition, Gurung’s brand would have the opportunity to tap into the Indian market and expand its customer base.
As the talks between Reliance Brands and Prabal Gurung progress, it will be interesting to see how this collaboration unfolds and contributes to the growth of both parties involved. With Reliance Industries’ vast retail network and Gurung’s established reputation in the fashion industry, this partnership holds the potential to establish a strong presence in the Indian fashion market.
Links:
1. Reliance Industries Limited
2. Prabal Gurung
