Reliance Brands Ltd (RBL) on Monday announced forming a 60:40 joint venture with Rahul Mishra brand RM, which will create and own a new brand that would encompass courtier's ready to wear business.
The new brand would grow both vertically and horizontally in the fields of accessories, footwear, home, beauty, and jewellery for a worldwide audience, said a joint statement.
Rahul Mishra will lead the new brand as creative director, it added.
"Joining forces with the designer, the new brand would be synonymous with excellence and creativity the world over, presenting an exclusive ready to wear collection at one of the global fashion weeks," it added.
Rahul Mishra, who employs local artisans to bestow their traditions on modern designs, has many firsts to his credits such as to showcase at Paris Haute Couture week.
In 2014, he also became the first Indian to win the coveted Woolmark Prize at Milan Fashion Week.
Reliance Retail Ventures director Isha Ambani said: "Rahul Mishra's flawless contemporary design sense and stunningly intricate pieces have spotlighted Indian expertise in crafts globally.
"Accompanied with his expertise in leveraging international fashion forums to accelerate brand building and creating a global customer base, it's the perfect secret sauce to co-create a global brand."
It's a strategic part of our ongoing commitment to nurture Indian art and culture, she added.
Mishra said: "Reflecting on the critical and commercial success of Rahul Mishra couture collections, it has been our desire to equally focus on ready to wear business and extend our universe by democratising the fashion cultivated by us.
"With this partnership for the new brand, we are sure of achieving mindful growth while giving the process its due attention and care.”
RBL, part of Reliance Industries Limited, is expanding its play into the luxury and retail landscape.
Last year, it had into strategic partnerships with investments in Manish Malhotra's eponymous brand.
It also has equity investments in fashion designer Raghavendra Rathore's company.
RBL, which began operations in 2007, has 680 stores and 916 shop-in-shops in India.
It has a portfolio of brand partnerships which includes AK-OK, Armani Exchange, Bally, Bottega Veneta, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Ermenegildo Zegna, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Mothercare, Muji, Paul & Shark, Paul Smith, Pottery Barn, Ritu Kumar, Salvatore Ferragamo, Satya Paul, Steve Madden, Superdry, Scotch & Soda, Tiffany & Co, Versace, Villeroy & Boch and West Elm.
