CURRENT AFFAIRS

Detailed explanation-1: -Reliance Brands acquires 40% stake in designer Manish Malhotra’s MM Styles.

Detailed explanation-2: -Reliance Brands signed a definitive agreement to acquire a 40 per cent stake in fashion designer Manish Malhotra’s MM Styles Private Limited.

Detailed explanation-3: -NEW DELHI: Reliance Brands, part of the Mukesh Ambani-led Reliance Industries, has picked up 40% stake in Manish Malhotra, the Indian couture brand widely favoured by well-heeled Bollywood celebrities.

Detailed explanation-4: -RBL has signed a definitive agreement to invest in founder and creative director, Manish Malhotra’s eponymous brand for a 40 per cent minority stake.

Detailed explanation-5: -It currently has four retail sites across India. His global ambitions have been fueled by the investment from Reliance Brands Ltd., part of billionaire Mukesh Ambani’s conglomerate, which bought 40% in the designer’s MM Styles Ltd.