Despite this, the designers will remain in control over the creative direction of the brand.
By Shaan Bajaj
On 19th April, Reliance Brands Limited (RBL), a subsidiary of Mukesh Ambani’s Reliance Industries,
announced their newly-signed agreement with Abu Jani Sandeep Khosla (AJSK) for a 51
percent stake of the iconic fashion label.
This agreement was reached after nine months and was credited to Ambani’s long standing relationship with AJSK. Both parties have been public about wanting to create an agreement built on faith, confidence and commitment that represented a shared mission for the future. AJSK and RBL are focused on adding value to the eCommerce business through tech innovation, strengthening global distribution, and adding talent.
Founded 35 years ago by Abu Jani and Sandeep Khosla, AJSK is a labour of love and passion, The brand has created a legacy with their artisanship, crafting luxury Indian attire that has been worn by famous names like Beyoncé, Aishwarya Rai Bachchan, and Sonam Kapoor.
Despite the deal, Abu Jani and Sandeep Khosla will continue to be at the forefront of the design and creative direction of the brand. In a statement, Abu Jani said:
“When we started Abu Jani Sandeep Khosla, our mission was clear, we wanted to bring India’s impeccable craftsmanship and sense of style that had developed over centuries to the modern world. We wanted Indians to feel proud of our culture and we’re determined to ensure it was revered in the global fashion landscape. With the support of Reliance Brands, we will be able to finally fulfil our ambition of global expansion. With this new venture we hope to permanently place our craft where it belongs, at the best runways, and racks across the world.”
RBL has also recently invested in several other fashion brands, including securing a 40 percent stake in Manish Malhotra, a 60 percent stake in Anamika Khanna’s fashion label, and a 52 percent stake in Ritu Kumar’s brand.