M&A

M&A

Reliance Retail acquires majority stake in fashion brand Abraham & Thakore

Business Line  

Reliance Retail Ventures Ltd has acquired a major stake in fashion brand Abraham & Thakore (A&T). The infusion of capital will enable the startup to focus on forthcoming market launches. The proceeds from the funding will also be used to build new technologies to complement the existing product line. A&T was launched in 1992 by David Abraham and Rakesh Thakore, who were soon joined by Kevin Nigli. A&T began selling loungewear and home collections first at The Conran Shop in London and later in global stores of repute such as Liberty, Browns, Harrods, and Selfridges. For almost 15 years the brand mostly retailed predominantly in international stores before coming to India with their first fashion show presentation. In the past couple of years, Reliance has invested in Satya Paul, Ritu Kumar, Raghavendra Rathore, ak-ok, Manish Malhotra and entered into a JV with Rahul Mishra.