Darshan Mehta, former managing director of Reliance Manufacturers Restricted (RBL), a subsidiary of Reliance Industries Restricted (RIL), handed away on Tuesday night, in line with individuals conscious of the event. He was 64.
Mehta was till lately the managing director of Reliance Manufacturers Restricted (RBL) earlier than turning into a non-executive director on RBL’s board final November. A chartered accountant, he was president of homegrown attire retail firm Arvind Manufacturers Ltd earlier than becoming a member of Reliance Industries.
Reliance Manufacturers Restricted was established in 2007 underneath Mehta’s management. He led the creation of a portfolio of premium way of life manufacturers for RIL, bringing iconic labels to the Indian market.
RBL’s portfolio contains greater than 50 manufacturers, largely international ones resembling Brooks Brothers, Burberry, Hamleys, Hugo Boss, Hunkemoller, Jimmy Choo, Kate Spade New York, Michael Kors, Steve Madden, Superdry, Scotch & Soda, Tiffany & Co. and Tory Burch.
It is usually invested in Indian menswear designer Raghavendra Rathore’s eponymous label, other than style designers Manish Malhotra, Rahul Mishra, Anamika Khanna, Abraham & Thakore, Abu Jani & Sandeep Khosla, and Ritu Kumar.
Final August, Mint reported that RBL had a tricky monetary yr 2024 (FY24), with a majority of its companies reporting weak efficiency, in line with the corporate’s annual report.
Regardless of a 13% improve in complete income to ₹2,303 crore in FY24, RBL’s losses widened by 55% to ₹288.4 crore from ₹185.16 crore in FY23. The rise in gross sales didn’t translate into profitability for manufacturers resembling Diesel Vogue India and Paul & Shark, which RBL controls.
Nationwide rollout for Reliance’s client enterprise
In March, Mint reported that Reliance Client Merchandise Ltd (RCPL), the packaged items arm of RIL, would take three to 4 years to distribute its merchandise nationally following a choose rollout of merchandise resembling Campa and Independence, in line with individuals within the know.
The corporate will even roll out extra merchandise over the following 12-18 months. Reliance’s client items enterprise has acquired numerous manufacturers and launched a number of personal labels to compete with established gamers resembling ITC and Hindustan Unilever Ltd in home and worldwide markets.
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