Reliance Brand Limited, owned by Mukesh Ambani, has launched Pret A Manger in India, a British sandwich and coffee chain. With this, the company will try to grab the market share dominated by Tata-Starbucks. The first store was opened in Mumbai's Bandra-Kurla complex. In the first year of launch, the company will launch 10 outlets of the luxury coffee house. The British company has partnered with Reliance Brands, a subsidiary of Reliance Retail, led by Mukesh Ambani's daughter Isha Ambani. Darshan Mehta is the MD of the company. He was also the first employee of the company launched in 2007. With 275 stores, Tata Starbucks is the most dominant player in India. It is a joint venture between Tata Consumer Products and American coffee chain Starbucks. It launched 50 stores in FY 22.
Who is Darshan Mehta?
Mehta is the President and chief executive of Reliance Brands Limited. The company is part of Reliance Retail. This company partners with foreign-based and domestic luxury brands in designer clothes, bags and food sectors. It is the market leader in luxury fashion and lifestyle space in India.
Over the last few years, the company has partnered with over 50 luxury brands, including Giorgio Armani , Bottega Veneta, Jimmy Choo, Burberry and Salvatore Ferragamo.
Mehta was the first employee of the company founded in 2007.
The company now has 750 employees in the head office. They have over 5000 employees if one considers those working in retail stores.
The company runs over 420 single-brand shops and 350 shop-in-shops facilities in over 60 Indian cities.
He is a chartered accountant by education. He worked in advertising initially. In the early 2000s, he was instrumental in bringing brands like Tommy Hiliger, Gant and Nautica to India.
In 2020-21, according to the company's filings, he was paid Rs 4.89 crore.
He is a runner who loves trekking and climbing mountains.
In the quarter that ended 31 December 2022, the company reported a revenue of Rs 67634 crore. The profit grew from Rs 2259 crore to Rs 2400 crore.
