Italian fashion brands are hitting on prospective World’s richest man and projected India’s largest retailer – Mukesh Ambani. Reliance Retail’s subsidiary, Reliance Brands is all set to bring home the Italian fashion Sixty Group and introduce brands like Miss Sixty, Energie, Killah and Murphy & Nye.
It is said that Renato Rossi-led design company is expected to have a 51% stake in the venture while Reliance will hold 49%. The JV is likely to open 56 exclusive high end stores in 3 years and will be mostly company operated. Mr. Darshan Mehta is likely to head this venture for Reliance Retail.
Sixty group is a $900 million designer brand with presence in 100 countries. [Left you can see a model for Miss Sixty on the ramp IN NY City Fashion Show]