Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries (RIL), has acquired a majority stake in fashion brand Abraham & Thakore Exports (A&T) for an undisclosed sum.
Launched in 1992 by design trio David Abraham, Rakesh Thakore and Kevin Nigli, A&T retails merchandise across the globe. The design trio will continue to lead the creative direction of the brand.
“A&T’s interesting use of material and fresh take on traditional textile techniques have crafted a highly distinctive design signature for the brand. With Indian luxury customers undergoing a generational consumption shift, there is heightened appreciation of A&T’s timeless design, and we are excited to partner with the brand to bring its unique expression of Indian craftmanship to consumers globally,” said Isha Ambani, Director, RRVL said.
A&T’s started retailing loungewear and home collections at The Conran Shop in London and later in global stores such as Liberty, Browns, Harrods and Selfridges. For almost 15 years the brand mostly retailed predominantly in international stores before coming to India with its first fashion show presentation.
“Through this partnership we will be extending the presence of the brand and bring together both fashion and lifestyle collections which will include home furnishings and lounge wear,” said David Abraham.
RRVL will use its subsidiary Reliance Brands’ (RBL) reach to retail the merchandise across the world.
RBL also has investments in Indian couture brands such as Manish Malhotra and Raghavendra Rathore. The firm’s portfolio of brand partnerships comprises AK-OK, Armani Exchange, Bally, Bottega Veneta, Brooks Brothers, Burberry and Diesel among others.
from The Financial Express https://bit.ly/3tiz4PS
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