Darshan Mehta, who launched and led India’s largest luxury retail network - Reliance Brands Limited is set to step down as Managing Director. He is likely to transition into an advisory role, according to internal company communications accessed by Luxury Tribune.
Reliance Brands Ltd. (RBL), India’s largest luxury retailer holds exclusive India-partnerships with over 3 dozen global luxury names, including Valentino, Balenciaga, Versace, Salvatore Ferragamo, Jimmy Choo, Ermenegildo Zegna, Tory Burch, Sephora, and Tiffany & Co. Beyond international brands, RBL also owns significant stakes in iconic Indian couture houses like Rahul Mishra, Manish Malhotra, and Abu Jani Sandeep Khosla (AJSK), catering to India’s lavish wedding industry.
RBL, a subsidiary of Reliance Industries Ltd (RIL) led by the Ambani family, contributed nearly €259 million to RIL's €65.46 billion revenue in the 2023-2024 financial year. RIL also owns Mumbai’s first luxury mall, home to several brands brought to India through RBL partnerships.
Mehta, who worked as RBL chief for 20 years is expected to transition into an advisory role within the Reliance Group while continuing as a Non-Executive Director on RBL's board. He is credited with introducing over 60 global premium and luxury brands in India during his tenure at RBL, and earlier with Arvind Brands, another major player in India’s burgeoning fashion market.
While Mehta’s successor has not been announced, RBL will now be governed by a core leadership team comprising 4 members including Vice Presidents & a Chief Financial Officer.
In the past 5 years, India has seen a large inflow of global luxury brands eager to woo the country’s fast emerging wealthy population - by partnering with established retail giants in India such as RBL to streamline operations, navigate investment processes, and effectively reach the country’s widely dispersed affluent population. RBL’s network is spread across 60 Indian cities. It has 420 mono-brand boutiques and 350 shop-in-shops and employs over 5,000 people.
India’s luxury market is expected to grow to $90 billion by 2030. Earlier this year, Mumbai, India’s financial capital city overtook Beijing as Asia’s billionaire capital.
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