Reliance Retail Ventures buys majority stake in Abraham & Thakore

Last year, RIL arm had partnered Manish Malhotra’s brand and Raghavendra Rathore’s company

Topics


Reliance Retail | acquisition


BS Reporter  | 
Mumbai 


Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries and the holding company of all retail companies within the group, has invested in Abraham & Thakore Exports for a majority stake.

RRVL seeks to leverage its subsidiary Reliance Brands’ (RBL’s) deep understanding of the affluent Indian customer and their heft across digital, retail operations, marketing, and supply chain platforms, to build Abraham & Thakore’s global appeal in the fashion and lifestyle category, Reliance Industries said in a press release.

Launched in 1992 by David Abraham and Rakesh Thakore, they were soon joined by Kevin Nigli. The design trio, David Abraham, Rakesh Thakore and Kevin Nigli will continue to lead the creative direction of the brand.

A&T’s began with loungewear and home collections that were first sold at The Conran Shop in London and later in global stores such as Liberty, Browns, Harrods, and Selfridges. For about 15 years the brand mostly retailed predominantly in international stores before coming to India with their first fashion show presentation.

“Abraham & Thakore’s interesting use of material and fresh take on traditional textile techniques has crafted a highly distinctive design signature for the brand. With Indian luxury customers undergoing a generational consumption shift, there is heightened appreciation of Abraham & Thakore’s timeless design, and we are excited to partner with the brand to bring its unique expression of Indian craftsmanship to consumers globally,” said Isha Ambani, director, RRVL.

“Abraham & Thakore is excited to partner with RRVL, the company responsible for redefining India’s luxury landscape. 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 is expanding its presence in the luxury and retail landscape. Last year, it entered strategic partnerships with investments in Manish Malhotra’s brand and also has an equity investment in fashion designer Raghavendra Rathore’s company. It also recently entered a joint venture with fashion designers Rahul Mishra and Anamika Khanna.

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