Reliance Brands eyes acquisition

Reliance Brands, a subsidiary of Mukesh Ambani-led Reliance Retail, is scouting for acquisition in

the domestic market, besides launching its own luxury label in the next 18 months. It is also in discussions with some Indian companies operating in apparel, footwear and accessories space for an acquisition. The company, which at present predominantly focuses on the men’s wear, plans to also expand its product categories.

Meanwhile as a part of its diversification Reliance Industries, is set to activate its private equity (PE) role to invest in a fashion brands shortly even as the company is evaluating the prospect of launching its own range of luxury brands in the country by next year end or early 2012. According to the President and Chief Executive Officer Darshan Mehta, the company is close to making an investment as a PE player in a fashion brand, where they see opportunity to work together and expand presence. This will complement the other business of the company handled through three joint ventures with Paul & Shark, Diesel and Zegna.

Mehta said women and children were the two categories, which could be looked at for acquisitions. Reliance Brands started operations in 2007 to launch and build international and domestic brand equity in the premium to luxury segment across apparel, footwear and lifestyle businesses. The company also has joint ventures with Diesel, Zegna and Timberland. It is also a licensee for Italy’s fashion brand, Paul & Shark.