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Darshan Mehta is leaving his post as Reliance Brands Limited’s president and chief executive, according to a report from The Times of India. Mehta will transition into an advisory role at ultimate parent company Reliance Industries Limited (RIL), after leading the luxury retail company for almost 20 years.
”Mehta will mentor next-generation leaders and will also help evaluate and explore untapped business opportunities,” sources close to the matter told The Times of India.
Mehta was the first employee of Reliance Brands, which operates hundreds of mono-brand fashion and luxury stores across India, when it formed in 2007. During his tenure, the business inked a number of distribution deals with brands including Valentino, Balenciaga, Tory Burch and Kate Spade.
Reliance Brands is a subsidiary of RIL unit Reliance Retail Ventures Limited, which is led by Isha Ambani, daughter of RIL chairman Mukesh Ambani. The company has not yet named a successor for Mehta, and according to reports, its senior leadership will oversee operations in the interim.
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