Reliance Industries Acquire 52% Stake In Fashion Label Ritu Kumar
Reliance Industries bought 52% stake in the fashion brand, Ritu Kumar. However, no financial details have yet been unveiled by the company. Reportedly, Reliance also bought a 40% stake in Manish Malhotra’s fashion house. Furthermore, Birla Fashion and Reliance bought 51% stake in Sabyasachi. “The discretionary wallet spend on products of the top 20 million customers is what we remained focused on”, said Darshan Mehta.