Reliance Reliance Brands acquires majority stake in Abu Jani Sandeep Khosla
Mumbai: Reliance Brands Limited (RBL), a subsidiary of Reliance Retail Ventures Ltd, on Tuesday, signed a definitive agreement to invest either by itself and/or through its affiliates in India’s foremost couturiers Abu Jani Sandeep Khosla (AJSK) for a 51 percent majority stake.
The strategic partnership is aimed at accelerating the 35-year-old couture house’s growth plans in India and across the globe.
Speaking about the acquisition, Isha Ambani, Director, Reliance Retail Ventures Ltd said, "Teaming up with India’s foremost couturiers, who hold an unparalleled position in Indian fashion for their fine craftsmanship and impeccable attention to detail, techniques and embroideries is thrilling, as it allows us to build a stronger platform for their zealous commitment to reinvention of Indian craft. Inspiration from the old to create with a brand new approach is their gift."
"Abu Sandeep have been extraordinarily successful for over three decades and it is time that their endeavour to present their unabashed vision of luxury reached every nook and corner of the world, carving a unique space for the brand globally, making them true Ambassadors of Indian Style,” she added.
Based in Mumbai, Abu Jani and Sandeep Khosla are India's premier couturiers their design legacy began in 1986. Their couture label Abu Jani Sandeep Khosla is internationally feted for its cutting-edge quality and classically elegant style, Reliance Retail Ventures Ltd said in a statement.
With this new partnership, the brand is committed to championing the incredible Indian artisans and bringing forth their astonishing craftsmanship on the world stage. This renewed focus will enable the brand to position India as a creator of the finest, competing with the finest across the globe, the press statement said.
"When we started Abu Jani Sandeep Khosla our mission was clear, we wanted to bring India’s impeccable craftsmanship and sense of style that had developed over centuries to the modern world. We wanted Indians to feel proud of our culture and we’re determined to ensure it was revered in the global fashion landscape. In the past 35 years we have done just that, not only have we brought traditional techniques back to life, but we have also created new ones that reflect the tastes and culture of modern India," said Abu Sandeep.
"Now with the support of Reliance Brands, we will be able to finally fulfil our ambition of global expansion. With RBL's world-class team steering our brand onto the global stage, this is an exciting time for Indian fashion. With this new venture we hope to permanently place our craft where it belongs, at the best runways and racks across the world,” Abu Sandeep observed.
The fashion label Abu Jani Sandeep Khosla currently features three other labels, ASAL by Abu Sandeep, GULABO by Abu Sandeep and MARD by Abu Sandeep.
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