Entertainment
Bollywood stylist plans global expansion after Ambani investment
Manish Malhotra, stylist to some of Bollywood’s biggest stars over the past three decades, plans to more than double his chain of stores and open his first store overseas, months after the richest man from Asia bought her eponymous fashion house.
The first international brick-and-mortar outlet is expected to open in early 2023 in the US, UK or Middle East, where the luxury brand has “huge success”, Malhotra said in an interview in Mumbai. At least six new stores in India and abroad are in the works, he said, adding that he currently has four retail locations across India.
Its global ambitions have been fueled by investment from Reliance Brands Ltd., part of billionaire conglomerate Mukesh Ambanis, which bought 40% of designers MM Styles Ltd. in October for an undisclosed sum.
Ambani wants to expand the operations of its flagship Reliance Industries Ltd. globally and expand its burgeoning retail empire while reducing reliance on its traditional fossil fuel-based business. The conglomerate also bought a 52% stake in the label from fellow Indian designer Ritu Kumars days after investing in MM Styles.
Reliance will seek to create a “strong technological backbone for the Malhotras brand and make it a” global tailoring powerhouse, it said in October after announcing the purchase of the stake.
As Malhotra rolls out its overseas expansion plans, it seeks to create new product lines, including jackets, shirts, shoes and bags, that may appeal to Western consumers beyond the Indian Diaspora.
Malhotra, 55, who became a household name in India after styling actors for a series of hit Bollywood films and continues to do so, launched her fashion house in 2005.
He also designed the outfits and decor for the extravagant 2018 wedding of Ambanis’ only daughter, Isha – a partnership that likely sowed the seeds for a future business collaboration.
Reliance Brands has become a gateway to India for international luxury companies seeking to access one of the largest retail markets in the world and has brought in at least 35 international brands including Burberry Group Plc, Hugo Boss AG and Jimmy Choo.
luxury bounce
Global demand for luxury goods is rebounding as vaccination rates rise across the world and people socialize and travel more. India’s fashion luxury industry is also recovering after several shutdowns and is expected to grow from around $1 billion last year to $1.5 billion in 2025, according to researcher GlobalData.
This attracts corporate funding into Indian fashion, which risks diluting a brand’s exclusivity.
Malhotra insists the label won’t sell out despite its new heavyweight shareholder.
“We’re not going into mass production, we’re going to wear brand luxury,” he said. “The idea is to take our Indian craftsmanship and make it global, so that it is globally understood and globally accessible and sought after.
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