Reliance Retail Ventures acquires majority stake in Abraham & Thakore

Reliance Retail Ventures Limited (RRVL), a subsidiary of Mukesh Ambani-led Reliance Industries Limited and the holding company of all retail companies within the group, on Tuesday said that it has invested in a majority stake in legacy designers, Abraham & Thakore Abraham & Thakore Exports Pvt Ltd.

Through this acquisition, RRVL seeks to "leverage its subsidiary Reliance Brands Limited’s (RBL)'s deep understanding of the Indian customer and their heft across digital, retail operations, marketing, and supply chain platforms, to build brand Abraham & Thakore global appeal in the fashion and lifestyle category," the company stated.

Commenting on the acquisition, Isha Ambani, Director, Reliance Retail Ventures Limited said, “With Indian luxury customers undergoing a generational consumption shift, there is heightened appreciation of Abraham & Thakore timeless design, and we are excited to partner with the brand to bring its unique expression of Indian craftsmanship to consumers globally.”

David Abraham said, “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.”

The design trio, David Abraham, Rakesh Thakore and Kevin Nigli will continue to lead the creative direction of the brand, Reliance Retail further stated.

David Abraham and Rakesh Thakore launched the brand in 1992, they were joined by Kevin Nigli who famously became the “&” in Abraham & Thakore (A&T).
 

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