Reliance Brands buys 12.5% stake in designer Raghavendra Rathore’s firm
Billionaire Mukesh Ambani-led Reliance Industries Ltd has purchased a 12.5% stake in a company set up by fashion designer Raghavendra Rathore, according to a report in VCCircle. Reliance Brands Ltd bought the stake in Future101 Design Pvt. Ltd for Rs 9.5 crore ($1.4 million), the energy-to-retail conglomerate said in a stock-exchange filing Future101, incorporated in July 2013, makes and sells luxury apparel in India. It belongs to a similar industry as Reliance Brands. “We expect growth in this sector and value creation from this investment,” Reliance said. Earlier, an ET…
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