<ul><li>The JV will acquire <keyword id="1141391" type="General" weightage="80" keywordseo="superdry" source="Orion">Superdry</keyword>'s intellectual property assets for India, Sri Lanka, and Bangladesh.</li><li>Superdry has 200 points of sale across 50 cities and e-commerce drives a majority of its sales.</li><li>The brand roped in actor Kartik Aryan as its brand ambassador in 2022. </li></ul><keyword id="74639" type="General" weightage="20" keywordseo="Reliance-Brands" source="Orion">Reliance Brands</keyword>’ UK subsidiary signed a definitive agreement to enter into a joint venture with UK-based fashion brand Superdry. <keyword id="10926" type="General" weightage="80" keywordseo="reliance" source="Orion">Reliance</keyword> Brands will own a majority stake of 74% in the JV, while Superdry will own 24%. The JV will acquire Superdry's intellectual property assets for India, Sri Lanka, and Bangladesh. The consideration for the IP is £40 million, and Superdry will receive gross cash proceeds of £28.3 million net of fees and taxes from Reliance Brands UK. India-centric product categories Both the companies have been partners since 2012, when the Mukesh Ambani led company brought the fashion brand to India. The brand adapted to Indian shopping needs and introduced swimwear, fragrances and an exclusive denim and shirt range earlier this year. The new partnership will facilitate new sourcing channels, and also introduce India-centric product categories. This is in addition to cost optimisation, and long-term investments in brand development, RBL said. “India represents an incredible opportunity for Superdry, and our excellent existing relationship with Reliance means we will be able to hit the ground running. Under our new partnership, I am confident that the brand will continue to accelerate and build on our success to date to become a major force in the Indian fashion market,” said <keyword id="4992696" type="General" weightage="50" keywordseo="julian-dunkerton" source="Orion">Julian Dunkerton</keyword>, CEO and founder of Superdry. Superdry offers versatile outerwear, T-shirts, and shirts for men and women. They are also present in shoes and accessories. In 2019, it expanded into sports and activewear. “Superdry has come to define urban cool in India for more than a decade. I look forward with excitement to this new era of our partnership,” said <keyword id="141542" type="General" weightage="50" keywordseo="darshan-mehta" source="Orion">Darshan Mehta</keyword>, MD of Reliance Brands. It has 200 points of sale across 50 cities. “E-commerce continues to drive incremental growth for the brand, boosting its reach beyond 2,300 Indian cities, underlining RBL-run <keyword id="19014126" type="General" weightage="50" keywordseo="superdry-india" source="Orion">Superdry India</keyword> operations as the largest franchisee network of the brand globally,” RBL said in its press release. It roped in Bollywood actor Kartik Aryan as its brand ambassador in 2022. The fashion brand claims to have a unique fusion of British heritage, American styling, and Japanese graphics.

Reliance Brands forges partnership with ‘urban cool’ fashion brand Superdry

<keyword id="6999" type="General" weightage="100" keywordseo="valentino" source="Orion">Valentino</keyword> announced the opening of its Valentino boutique at DLF Emporio, the luxury mall in the heart of New Delhi. The boutique, which is over 110 square meters, marks an important step in the development of Valentino's worldwide retail network expansion with a renewed store concept geared toward adapting to the changes in the retail market. The boutique's experiential design will provide customers with a global experience and a bespoke client experiential journey. The facade features a special installation with stand lights and ultraclearview vinyls on the windows glass. The windows on display feature the iconic <keyword id="15554063" type="General" weightage="50" keywordseo="valentino-pink-pp-collection" source="Orion">Valentino Pink PP Collection</keyword>. The boutique carries all women's and men's product categories: ready-to-wear, <keyword id="3475" type="General" weightage="50" keywordseo="valentino-garavani" source="Orion">Valentino Garavani</keyword> bags, shoes and accessories. "The brand's infectious romanticism, signature codes and bold use of colour has strong resonance in India. This partnership will help make the brand more accessible to its Indian customers and build a new tribe of Valentino connoisseurs," said Darshan Mehta, MD of Reliance Brands Limited. "We are pleased to join forces with India's leader in luxury retail, Reliance Brands Limited (RBL) and proud to work together to expand our shared vision and voice in this important market, rife with new opportunities. The upcoming store opening represents a significant step in Valentino's global strategy, and we are honoured to be part of the country's growing retail market, allowing the company and the Valentino Community to grow in a solid way, according to our values and brand culture. As per the new business model, we are leveraging the strong relationships between the brand, its sales force and the customers, hinged on our Couture values - obsession for detail, creativity and client centricity - that together with human capital and teamwork are at the core of the company culture and the main drivers of its evolution. We look forward to bringing Valentino's renowned collections and our one-of-a-kind customer journey mindset to India," said <keyword id="15554064" type="General" weightage="50" keywordseo="jacopo-venturini" source="Orion">Jacopo Venturini</keyword>, CEO <keyword id="8690014" type="General" weightage="50" keywordseo="maison-valentino" source="Orion">Maison Valentino</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/one-in-every-five-online-orders-had-a-kurti-or-saree-in-their-cart-redseer/articleshow/95598263.cms">One in every five online orders had a kurti or saree in their cart: RedSeer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/from-chiranjeevis-godfather-to-the-wonder-here-are-some-ott-releases-you-can-watch-this-weekend/slidelist/95603368.cms">From Chiranjeevi’s Godfather to The Wonder: Here are some OTT releases you can watch this weekend</a>

Valentino opens its new boutique in New Delhi

<keyword id="140136" type="General" weightage="50" keywordseo="reliance-brands-ltd" source="Orion">Reliance Brands Ltd</keyword> (<keyword id="2199265" type="General" weightage="80" keywordseo="rbl" source="Orion">RBL</keyword>) on Thursday announced a strategic partnership with global fresh food and organic coffee chain <keyword id="1759544" type="General" weightage="20" keywordseo="Pret-A-Manger" source="Orion">Pret A Manger</keyword> to launch and build the brand in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. With this long-term master franchise partnership, RBL will open the food chain across the country starting with major cities and travel hubs. Pret A Manger, French for �ready to eat', first opened in London in 1986 now has 550 shops in nine markets including the UK, US, Europe, and Asia. The chain offers organic coffee, sandwiches, salads and wraps freshly made each day. "Our partnership with Pret is rooted in the strong growth potential of both Pret as a brand as also of the food &amp; beverage industry in India. RBL closely follows the pulse of Indian consumers and there is an increased consciousness of what we eat - rapidly making Food the new Fashion," said Darshan Mehta, MD, RBL. "Indians, like their global counterparts, are seeking Fresh and Organic ingredient-led dining experiences which has been synonymous with Pret's core offering. Couple that with the high recall the brand enjoys in the country, it's undoubtedly a recipe for success," he added. Pano Christou, CEO, Pret A Manger, said: "Two decades ago, we opened Pret's first shop in Asia and it's been an inspiration for all of us to bring our freshly made food and 100 per cent organic coffee to new cities across the continent. "RBL is a great partner to help us do just that, bringing their years of expertise in the market to help our brand succeed in India. We're looking forward to working with them on what is our most ambitious global franchise partnership to date." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/rajasthan-gets-its-first-showers-lawan-gets-100-mn-rainfall/articleshow/92586509.cms">Rajasthan gets its first showers, Lawan gets 100 mn rainfall</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/eknath-shinde-says-balasahebs-sainik-has-become-the-chief-minister/articleshow/92586373.cms">Eknath Shinde says Balasaheb's Sainik has become the chief minister</a>

Mukesh Ambani makes inroads into the 'fresh and organic' restaurant business

New Delhi, The Central Bureau of Investigation (<keyword id="6354572" type="General" weightage="80" keywordseo="cbi" source="Orion">CBI</keyword>) in its charge sheet lodged in the Rs 34,615 crore <keyword id="127124" type="General" weightage="100" keywordseo="dhfl" source="Orion">DHFL</keyword> loan fraud case has said that the accused created 87 shell companies and 2,60,000 fake borrowers to launder money. The charge sheet was filed in the second week of October. The federal probe agency has also said in its charge sheet that the accused set up a virtual branch to launder money. The CBI had on October 15 filed the charge sheet against 75 accused, including private companies before the Rouse Avenue court in Delhi. It has been alleged that <keyword id="2693" type="General" weightage="80" keywordseo="kapil" source="Orion">Kapil</keyword> and Dheeraj <keyword id="695125" type="General" weightage="80" keywordseo="wadhawan" source="Orion">Wadhawan</keyword> laundered money and purchased 24 paintings worth Rs 63 crore. The charge sheet said that the laundered money was spent on credit cards, foreign trips and renting chartered planes. The CBI has alleged that Wadhwas were using a special designed software which was generating dummy data. The software was also showing various fake entries of home loan takers. The accused also created a virtual branch in the name of Bandra branch with a code 001 whereas in reality this branch does not exist. From this virtual branch, loans were given to shell companies. <cmsannotation type="cmsannotation" annotationid="Case history" comment="subhead" text="Case history">Case history</cmsannotation> The charge sheet has been filed against Kapil Wadhawan, Dheeraj Wadhawan, both the then CMD, DHFL; Harshil Mehta, its ex CEO, Ajay Vazirani; Advocate, Jayesh Khona; the then Vice President (Accounting), DHFL, Dinesh Bansal; Director of D K Realty (India) Pvt. Ltd, Sunny Bathija; Director of Sunblink Real Estate Pvt. Ltd, Ajay Navandar; Jignesh Mehta, CA of Chaturvedi &amp; Shah LLP, Amit Chaturvedi, Partner of Chaturvedi &amp; Shah LLP and others. In July the CBI had seized a helicopter parked in a hangar at the premises of Avinash Bhosale, one of the accused, at Baner Road in Pune. "It came to light that RKW Developers Pvt. Ltd (a company owned by Wadhawan family) allegedly has stakes in Varva Aviation (an Association of Persons) which owns an AW109SP Grand New Helicopter (AgustaWestland Helicopter) which was allegedly purchased in 2011. RKW Developers Pvt. Ltd joined the Association of Persons in 2017 contributing towards cost price and maintenance of said helicopter. "ABIL Infraprojects Ltd, a company owned by Avinash Bhosale allegedly has a stake in the said helicopter. As it was allegedly apprehended that the funds used for making payment towards the stake in Association of Persons were sourced from loan funds sanctioned by different banks, therefore, we have seized the helicopter which was parked in a hangar at the premises of Bhosale at Baner Road, Pune," the CBI had said. Earlier the federal probe agency had seized two paintings made by F.N. Souza (1964) and another by S.H. Raza (1956) worth Rs 5.50 crore; two watches of Jacob &amp; Co &amp; Frank Muller Geneve make worth Rs 5 crore and Jewellery including worth Rs 2 crore. The CBI had said that the promoters had acquired expensive items using the diverted funds. DHFL Directors Kapil and Dheeraj Wadhwan, who were arrested by the agency, were brought to Delhi from Lucknow. Earlier on July 8, the CBI had recovered paintings and sculptures worth Rs 40 crore. A case was registered on June 20, 2022. Vipin Kumar Shukla, DGM and Branch head of Union Bank of India, Nariman Point, Mumbai lodged an FIR in this connection. It was alleged in the complaint Dewan Housing Finance Corporation Ltd (DHFL), Kapil Wadhawan it's former CMD, Dheeraj Wadhawan, the ex-Directors, Sudhakar Shetty and other accused entered into a criminal conspiracy to cheat the Consortium of 17 banks led by Union Bank of India. "Wadhawan and others induced the consortium banks to sanction huge loans aggregating to Rs 42,871.42 crore and siphoned off and misappropriated a significant portion of the said funds by falsifying the books of the DHFL and dishonestly defaulted on repayment of the legitimate dues of the said consortium banks. That caused a wrongful loss of Rs 34,615.00 crore to the consortium lenders," said the CBI. The CBI after conducting an inquiry lodged the case under sections 120-B read with 409, 420, 477-A of IPC and Section 13(2) read with sections 13(1)(d) of Prevention of Corruption Act. The FIR was lodged against DHFL, its former CMD Wadhwan, MD Dheeraj Rajeshkurrar Wadhwan, present Director <keyword id="4946125" type="General" weightage="50" keywordseo="sudhkar-shetty" source="Orion">Sudhkar Shetty</keyword>, Amaryllis Realtors LLP (ARLLP), Gulmarg Realtors LLP (GRLLP), Skylark Buildcon Pvt. Ltd, Darshan Developers Pvt. Ltd, Sigtia Constructions Pvt. Ltd, Creator Builders Pvt. Ltd, Township Developers Pvt. Ltd, Shishir Reality Pvt. Ltd, Sunblink Real Estate PM. Ltd and other unknown persons including public servants. The official said that it was found that the promoters had allegedly diverted the funds and made investments in various entities. It was also alleged that the promoters had acquired expensive paintings and sculptures worth about Rs 55 crore using the diverted funds. Earlier, searches were conducted on June 22 at 12 locations in Mumbai at the premises of the accused which led to recovery of incriminating documents. Further investigation in the matter was on.

DHFL loan fraud case: Money laundered via 87 shell firms, 2.6 lakh fake borrowers

(Eds: Adding details from the order) New Delhi, Jun 18 () The Supreme Court Thursday stayed this year's Puri Rath Yatra, which is attended by lakhs of people from across the world and was to start from June 23, due to the COVID-19 pandemic and said "Lord Jagannath won't forgive us if we allow" it. A bench of Chief Justice S A Bobde and Justices Dineesh Maheshwari and A S Bopanna said that in the interest of public health and safety of citizens, this year's Rath Yatra at Puri in Odisha can't be allowed. "Lord Jagannath won't forgive us if we allow this year's Rath Yatra to go on", CJI Bobde said, adding that as such a huge gathering can't take place during the pandemic. While the Rath Yatra festival, held over 10-12 days with lakhs of people participating, was scheduled for June 23, the 'Bahuda Jatra' (return car festival) was fixed for July 1. Three heavily built wooden chariots of Lord Jagannath, Lord Balabhadra and Devi Subhadra are traditionally pulled by thousands of devotees over a distance of three kilometres twice during the nine-day festival of the Trinity at Puri. "Having regard to the danger presented by such a large gathering of people for the Rath Yatra, we consider it appropriate in the interests of public health and safety of citizens who are devotees to restrain the respondents from holding the Rath Yatra this year," the bench said. It said Article 25(1) of the Constitution itself confers the right to freely profess and propagate religion subject to health. "We accordingly direct that there shall be no Rath Yatra anywhere in the temple town of Odisha or in any other part of the State this year. We further direct that there shall be no activities secular or religious associated with the Rath Yatra during this period," it said. During the hearing, senior advocate Mukul Rohatgi, appearing for the petitioner, an NGO, said that if Rath Yatra is allowed huge congregation of people will take place, exposing them to higher risk of infection by coronavirus. The bench observed that it is a serious matter. Solicitor General Tushar Mehta, appearing for the Centre, said that it needs time till Friday to file the reply. A counsel appearing for an intervenor said the Odisha government has issued a notification that there shall be no public gathering till June 30. However, the bench said that it is restraining the respondents from holding the festival starting from June 23 and issuing notice on the plea and replies be filed in four weeks. The Chief Justice said he came to know recently that the word juggernaut is related to Lord Jagannath which means a force that cannot be stopped. Mehta said, "But, you stopped it today". The top court noted in its order that it is not disputed that the number of people, likely to gather for the annual Rath Yatra scheduled to be held from June 23, 2020, is going to be about 10 to 12 lakhs and the festivities normally continue for a period of 10 to 12 days. The top court's order came on a PIL filed by the Odisha-based NGO seeking cancellation or postponement of this year's Rath Yatra. Two pleas have been moved in the top court seeking to cancel or postponement of the historic 'Rath Yatra'. Besides the PIL filed by the NGO, 'Odisha Vikas Parishad', seeking stay on holding of the annual festival, an appeal has been moved by one Surendra Panigrahi of 'Bhartiya Bikash Parishad' against the Orissa High Court order of June 9 which had asked the state government to decide on holding the 'Rath Yatra' festival in line with the COVID-19 guidelines. The PIL said the religious congregation of such nature, which has been specifically prohibited by the state government vide its guidelines dated June 1 and June 7 and the guidelines dated May 30 of Ministry of Home Affairs, if allowed, will lead to "catastrophic" results and it will be very difficult on the part of the authorities to control the spread of the virus thereafter. It said that if the 'Rath Yatra' is allowed to happen on June 23, despite State Government's prohibition on holding religious gathering or congregations, lakhs of devotees from all over the country are going to gather for 'darshan' of Lord Shri Jagannath. "If such a massive gathering takes place members of the crowd will not be able to maintain adequate distance, which will make them all vulnerable to contracting COVID-19 infection," it said. It sought a direction to the Centre and the state government for not granting any permission for holding the 'Rath Yatra' festival. The appeal of Panigrahi also mentioned similar grounds for deferment of Rath Yatra. On June 9, the High Court on the PIL filed by Panigrahi has directed that the state government that in case it decides to hold 'Rath Yatra' festival at Puri in consistent with the Covid-19 guidelines, then it must also duly consider deploying machinery or other means like elephants to pull the chariots. The High Court had said that it is up to the state government to decide whether to allow the religious festival depending on the Coronavirus situation prevalent on the ground. If, however, any such decision is eventually taken, the state government shall ensure strict adherence to the directives issued by the Centre and the State's own orders containing additional guidelines to prevent the spread of COVID-19 virus, the high court had said. MNL ABA SJK SA

You Searched For "darshan mehta" and got 5 results

Reliance Brands forges partnership with ‘urban cool’ fashion brand Superdry

BI India Bureau

Valentino opens its new boutique in New Delhi

IANS

Mukesh Ambani makes inroads into the 'fresh and organic' restaurant business

IANS

DHFL loan fraud case: Money laundered via 87 shell firms, 2.6 lakh fake borrowers

IANS

SC says no to this year's historic Puri Rath Yatra due to COVID pandemic

PTI