RELIANCE RETAIL VENTURE LIMITED OBTAINS A MAJORITY STAKE IN ABRAHAM & THAKORE 

Key Takeaways:

• The subsidiary company of Reliance Industries, Reliance Retail Venture Limited (RRVL) gained majority stakes in Abraham & Thakore.
• This acquisition is centered around the goal of making Abraham & Thakore gain recognition globally in the fashion & lifestyle category.
• The amount used to acquire the majority stakes in Abraham & Thakore has been kept undisclosed.
• The lead designers of the label, David Abraham, Rakesh Thakore, and Kevin Nigli will be looking after the creative section.

The year 2022 has seen a huge turnover in the fashion & beauty industry, especially with the starting of physical representation and shows. Another change that took place is the acquisition of the majority stakes of Abraham & Thakore by the RRVL, Reliance Retail Venture Limited. An undisclosed amount was used to gain the major stakes in the designing label at the beginning of March. The top designers of the label, namely David Abraham, Rakesh Thakore, and Kevin Nigli will look after the designing and creative section of the brand. 

This takeover was done with the purpose of making the position of the designing label known more prominently in the national as well as international fashion market. As well as to increase the retail and digital growth of the luxury products from the brand in the market. The immense depth of knowledge and experience that RRVL, a subsidiary of Reliance Industries has gained over the years with a long list of satisfied and loyal customers will come in handy for the inquisition and development of the label.

By selling their lounge wear and home collections in London, UK, Abraham & Thakore began selling their designed merchandise in global stores like The Conran Shop, Liberty, etc. Then, after 15 years of beginning their journey in 1992, they came to India with a show presentation. The profound experience of working throughout the globe with different kinds of fabrics, styles, cultures, and design patterns, gave the label a new idea and widespread knowledge of what to expect from the clients. In an interview, designer David Abraham talked about the usefulness of working globally and the many new ideas and textures they bring to the table for modern Indian sensibility, the specialty of A & T’s.

The all-around work of the three designers, Abraham, Thakore, and Nigli, who assume & the brand’s name, has created a widespread luxury style for their customers that makes them one of the largest luxury retailers in the country. 

The managing director of Reliance Brands Limited, Darshan Mehta explained this uptake of the RRVL and how they are going to use both the left and the right brain capabilities in their advances. Mr Mehta then elaborates, the investment will be defined as the perfect marriage where Reliance Retail Venture Limited will work as the strategic investors and the designers will bring their exemplary talents together to create the best-found results possible. This investment will make the brand reach high ground in the fashion world, making it cross milestones never touched before.