Reliance Brands FY26 revenue jumps 44.6% to ₹3,494 cr; losses halve as Sephora offsets designer drag
Reliance Brands' FY26 revenue rose 44.6% to ₹3,494 cr with losses narrowing to ₹137 cr from ₹279 cr, powered by Sephora and global luxury tie-ups across 935 stores and 762 shop-in-shops. Indian designer labels lag: Ritu Kumar (₹270 cr rev / ₹34 cr loss), Rahul Mishra and Abu Jani Sandeep Khosla all bleed.
What happened
Reliance Brands Ltd · Reliance Brands' FY26 revenue rose 44.6% to ₹3,494 cr with losses narrowing to ₹137 cr, led by Sephora and global luxury tie-ups, while
Key facts
- FY26 revenue ₹3,494 cr
- +44.6% YoY
- loss ₹137 cr vs ₹279 cr
- 935 stores
- 762 shop-in-shops
- Rahul Mishra rev ₹68.6 cr / loss ₹13.2 cr
- AK-OK rev ₹21.8 cr / loss ₹9.9 cr
- Ritu Kumar rev ₹270.34 cr / loss ₹34.47 cr
- Abu Jani Sandeep Khosla loss ₹10.68 cr
- India luxury market $10.6bn 2025 to $18.8bn 2034
Why this matters
Reliance Brands' platform is consolidating India's $18.8bn luxury market—watch for further global brand JVs and potential divestiture or restructuring of loss-making domestic designer assets like Ritu Kumar and Rahul Mishra.