Reliance Brands to invest in fashion

Reliance Brands plans to make strategic growth capital investments in India’s fashion

industry and is looking to pick up between 33 per cent and 49 per cent stake in high-street designer enterprises as well as main street fashion brands that are serious about growth. It may invest up to Rs 200 crores to back entities that are driven by talent as well as a business vision. It wants to partner with designers, brands and even interesting e-commerce models with India footprint as their core business proposition.

Reliance is not keen on taking a majority control but wants to part own the intellectual property in such transactions, which are like PE deals in spirit. Meanwhile, the three-year-old Reliance Brands, a subsidiary of the Mukesh Ambani-led Reliance Retail, has also entered into a 25-year agreement with California-based Quicksilver Holdings in order to open and operate its stores across India, Sri Lanka, Nepal and Bangladesh. The company plans to open six exclusive Quicksilver stores across Gurgaon, Pune, Hyderabad and Chandigarh this year. With a presence in almost 90 countries, Quicksilver is one of the oldest and largest companies manufacturing surf wear and other board sport-related equipment. Reliance Brands is in talks to bring more international brands aboard.