Darshan Mehta, Managing Director of Reliance Brands, will step down from his position after nearly two decades at the helm. Sources told ToI that Mehta will transition into a mentorship role within the Reliance Group, where he will guide next-generation leaders and explore untapped business opportunities.
“Mehta will mentor next-generation leaders and will also help evaluate and explore untapped business opportunities,” sources said.
In addition to his new role, Mehta will continue serving as a non-executive director on the board of Reliance Brands. Reliance Industries had not responded to queries on the matter at the time of going to press.
Mehta, who has been a cornerstone of Reliance Brands since its inception in 2007, was among its first employees. Before joining Reliance, he held prominent roles at companies like Arvind Brands. Over the years, Mehta played a pivotal role in expanding Reliance’s footprint in the luxury and premium retail sectors. Under his leadership, the company forged partnerships with leading global brands, bringing several of them to India, while also investing in homegrown designer brands.
Today, more than 90 global brands, including Balenciaga, Jimmy Choo, and Bottega Veneta, operate in India through Reliance Brands’ partnerships. A subsidiary of Reliance Retail Ventures, Reliance Brands is tasked with introducing and building global luxury and premium brands in fashion and lifestyle segments.
Sources indicated that Reliance has not yet decided on a successor for the Managing Director position. For now, a leadership team comprising senior executives will oversee the company’s operations. The team includes Vikas Tandon, senior vice-president of luxury retail; Dinesh Taluja, chief financial officer of RRVL; Prateek Mathur, head of corporate strategy for Reliance Retail; and Sumeet Yadav, group vice-president of RBL, who has been with the company since its inception.
The evolving retail landscape in India, driven by a growing appetite for premium brands and unique consumer experiences, presents both opportunities and challenges. Despite its strong market presence, Reliance Brands reported widened losses of ₹288.4 crore in FY24, compared to ₹185 crore in FY23.
Mehta’s departure marks the end of an era for Reliance Brands, as the company navigates a competitive retail environment while continuing to build its luxury and premium portfolio under the interim leadership of its core executive team.