Mumbai . Reliance Retail Venture Limited (RELIANCE RETAIL VENTURES LIMITED, RRVL) has done another big thing. Reliance Retail, a subsidiary of Reliance Industries, has made major investments in luxury fashion brand Abraham & Thakore (ABRAHAM & THAKORE EXPORTS PVT LTD). Both the companies have joined hands to work in the field of fashion and retail.
Announcing the deal, Reliance Retail said that through this partnership, Reliance Retail will benefit from Abraham & Thakor’s deep understanding of Indian customers. We have entered into this partnership to leverage the expertise of this luxury fashion brand across digital, retail operations, marketing and supply chain platforms.
A&T came in 1992
David Abraham and Rakesh Thakore started this venture in the year 1992. Later on it became famous as Abraham & Thakore (A&T) ie A&T. A&T first entered the market with its loungewear and home collections.
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The brand began selling its product first at The Conran Shop in London and later in prestigious global stores such as Liberty, Browns, Harrods and Selfridges. After retailing in international stores for nearly 15 years, the brand has now forayed into India.
“The Alliance Will Get Stronger”
Commenting on the partnership, Isha Ambani, Director, Reliance Retail Ventures Ltd. said, “Abraham and Thakore create exquisite designs using traditional textile techniques. The demand for such a product is increasing rapidly with the increasing number of Indian luxury customers. This will strengthen our alliance.
At the same time, David Abraham said that he is very excited to tie up with Reliance Retail. Through this partnership, we will expand the brand’s presence and bring together both fashion and lifestyle collections, which will include home goods and loungewear.
Tags: business news, Deals of the Day, Reliance Retail, Reliance retail arm, Reliance Retail Ventures
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