Reliance continues acquisition spree with takeover of Abraham & Thakore
Category: #retail  By Pankaj Singh  Date: 2022-03-02
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Reliance continues acquisition spree with takeover of Abraham & Thakore

Reliance has reportedly acquired Abraham & Thakore, a label known to contemporize Indian craft traditions, in continuation of its recent spree of taking over domestic labels.

The Delhi-based firm will be the latest Indian label to get an investment from Reliance, the largest player in the country, with collaborations with more than 60 global brands such as Burberry, Bottega Veneta, and Giorgio Armani. Two years ago, the company completed the acquisition of Hamleys, the British toy retailer, marking the conglomerate’s first international acquisition.

Over the past six months, Reliance has been prioritizing domestic fashion with stakes in Ritu Kumar, one of the oldest fashion labels of the country, which is run by Bollywood’s top designer Manish Malhotra, and prêt line AK-OK, a fashion label run by Anamika Khanna that combines streetwear and Indian silhouettes.

Moreover, at the start of the month, the company announced a joint venture collaboration in a 60-40 division with Rahul Mishra for a readymade brand. It is worth noting that Mishra was the first designer from India to participate in 2020’s Paris Couture week. Under the deal, it will debut at a global fashion week in September.

Now, the company adds Abraham & Thakore to its list of acquisitions as it purchases a majority stake in the Delhi-based company’s Exports Private Limited.

David Abraham, the Co-Founder of Abraham & Thakore expressed that the collaboration with Reliance will enable the label to extend its footprint and consolidate fashion as well as lifestyle collections which will comprise loungewear and home furnishings.

For the record, Abraham & Thakore was established in 1992 by David Abraham and Rakesh Thakore, both graduates from the National Institute of Design in Ahmedabad with Kevin Nigli, the alumni of National Institute of Design and Delhi’s National Institute of Fashion Technology joining the label later.

Source credit:

https://www.voguebusiness.com/companies/indias-reliance-fashion-acquisition-spree-next-is-abraham-and-thakore



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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