Remembering Darshan Mehta: Legacy of the Former MD of Reliance Brands Lives On

The retail world mourns the loss of Darshan Mehta, the former managing director and CEO of Reliance Brands, who passed away at the age of 64. Mehta suffered a sudden heart attack during a trip to Hyderabad on Wednesday. Renowned for his pivotal role in reshaping India’s luxury retail sector, he was instrumental in introducing numerous iconic global brands to the Indian market.

A Legacy in Luxury Retail

Darshan Mehta’s journey with Reliance Brands began 18 years ago, culminating in his position as managing director before transitioning to a non-executive director role last November. With qualifications as a chartered accountant, Mehta’s career started with PriceWaterhouse in Mumbai during the early 1980s. He then joined the Arvind Group, where he dedicated a remarkable 23 years to various leadership roles.

Key Contributions: As president of Arvind Brands from 2001 to 2007, Mehta significantly impacted the lifestyle retail sector. His efforts led to the successful introduction of international sportswear names such as Tommy Hilfiger, Gant, and Nautica into India.

In 2007, he brought his expertise to Reliance Brands, famously noting that he was the company’s first employee. Under his leadership, he expanded the workforce to include over 750 employees in the corporate office and more than 5,000 in stores nationwide.

Partnerships and Brand Collaborations

Mehta’s vision extended to partnerships with over 50 prestigious brands, including Ermenegildo Zegna, Giorgio Armani, Bottega Veneta, and Burberry. His strategic collaborations also embraced Indian fashion designers such as Manish Malhotra, Rahul Mishra, and Ritu Kumar, further enriching the company’s portfolio.

Financial Insights

Despite the expansion and a 13% year-on-year increase in total revenue to Rs 2,303 crore for Reliance Brands, the FY24 annual report revealed a staggering 55% increase in losses, totaling Rs 288.4 crore, up from Rs 185.16 crore in FY23. Sales growth did not equate to profitability for some of the brands under Reliance’s umbrella, including Diesel Fashion India and Paul & Shark.

Darshan Mehta’s contributions to the Indian retail landscape will not be forgotten, as he leaves behind a legacy that transformed the luxury shopping experience for countless consumers across the country. His passing is a significant loss to the industry and those who knew him.