NEW DELHI: Reliance Brands, a subsidiary of Mukesh Ambani-led Reliance Retail, is scouting for acquisition in the domestic market, besides launching its own luxury label in the next 18 months.

The company, which at present predominantly focusses on men's range, plans to focus on women and kidswear categories.

"We have become serious about launching our own brand and have already started work on that and dedicating resources on the same. If everything goes as planned, in the next 18 months it should get going," Reliance Brands President and CEO Darshan Mehta told media.

The company is also in discussions with a few existing Indian companies operating in apparel, footwear and accessories space for an acquisition.

"The due diligence is for the acquisition," Mehta said without specifying details.

When asked what would be the focus of the company in case of an acquisition or launch of an own label, Mehta said women and children are the two categories, which could be looked at.

Launched in 2007, Reliance Brands has joint ventures with Diesel, Zegna and Timberland. It is also a licensee for Italy's fashion brand Paul & Shark.

The company opened the first outlet for Diesel in March this year and plans to gradually expand the reach of existing brands in its kitty.

"We are not in a hurry to scale up the operations. The company is still in investment mode and the focus is to partner with strong brands," Mehta said.

"In the next two years we are likely to announce tie-ups with two more international brands," he added without mentioning the names.

On the expansion of the existing labels, Reliance Brands plans to have three more Diesel stores, 10 outlets for Timberland, five outlets for Zegna and four stores for Paul & Shark.

Mehta, however, did not reveal the investment planned for the expansion of these brands in the country.

Ambani’s RIL Investment Plan

India’s richest man may be gearing up to expand the world’s largest refining complex in Jamnagar, Gujarat.

The Mint newspaper reported Monday that Mukesh Ambani’s Reliance Industries Limited (RIL) plans to invest more than $8.8 billion by 2014 to set up a cracker unit for producing various petrochemicals.

With core assets in oil and gas, RIL is India’s largest private-sector company, encompassing a web of 96 subsidiaries operating in industries as diverse as retail, property, telecoms and financial services.

News of the planned investment pushed shares of RIL 0.9% higher to finish the day at 1,010.2 rupees ($22.44).

India’s soaring stock market has been attracting the interest of institutional investors from overseas. The Bombay Stock Exchange’s Sensitive Index (Sensex) has soared over 25% since hitting a low in late May. Overseas funds have invested $17.7 billion in Indian equities so far this year, according to the country’s market regulator.

Forbes; Blog; Dated 27 September, 2010

Achievement: Chairman and Managing Director of Bharti Group, India's largest GSM-based mobile phone service provider; IT Man of the Year Award 2002 from Dataquest and CEO Of the Year, 2002 Award from World HRD Congress.

Sunil Mittal can be called as originator of cellular phone revolution in India. He is the founder, Chairman and Managing Director of Bharti Group and runs India's largest GSM-based mobile phone service.

Sunil Bharti Mittal's father was an M.P. Sunil did not followed his father's footsteps. After graduating from Punjab University in 1970s, he set up a small bicycle business in Ludhiana in partnership with his friend. By 1979, Sunil Mittal realized that his ambitions could not be fulfilled in Ludhiana, so he moved out to Mumbai from Ludhiana.

He spent a few years in Mumbai and in 1982, Sunil Mittal started a full-fledged business selling portable generators imported from Japan. This gave him a chance to acquaint himself with the nitty-gritty's of marketing and advertising. His business was running smoothly but later on the government banned the import of generators as two Indian companies were awarded licenses to manufacture generators locally.

In 1986, Sunil Bharti Mittal incorporated Bharti Telecom Limited (BTL) and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. Gradually he expanded his business and by early 1990s, Sunil Mittal was making fax machines, cordless phones and other telecom gear.

In 1992, when the Indian government was awarding licenses for mobile phone services for the first time, Sunil Mittal clinched Delhi cellular license in collaboration with French telecom group Vivendi. In 1995, Sunil Mittal founded Bharti Cellular Limited (BCL) to offer cellular services under the brand name AirTel. Soon, Bharti became the first telecom company to cross the 2-million mobile subscriber mark. Bharti Cellular Limited also rolled out India's first private national as well as international long-distance service under the brand name IndiaOne. In 2001, BCL entered into a joint venture with Singapore Telecom International for a $650-million submarine cable project, India's first ever undersea cable link connecting Chennai in India and Singapore.

Today, Sunil Mittal runs a successful empire with a market capitalization of approximately $ 2 billion and employing over 5,000 people. He has been honored with several awards. Sunil Bharti Mittal was chosen as one of the top entrepreneurs in the world for the year 2000 and amongst 'Stars Of Asia', by 'Business Week'. He also received IT Man of the Year Award 2002 from Dataquest and CEO Of the Year, 2002 Award (World HRD Congress).