Robb Report Hong Kong is delighted to announce that Darshan Mehta, the president and CEO of Reliance Brands Limited (RBL), a subsidiary of US$125 billion market-cap company and India’s largest conglomerate Reliance Industries Limited, is joining the highly anticipated Leaders of Luxury Summit 2024 as our opening keynote spotlight speaker.
In the dynamic landscape of luxury retail, few figures stand as prominently as Darshan Mehta. As part of the vast portfolio owned by the Ambani family—the wealthiest in Asia and the 9th wealthiest in the world, as per Forbes—there’s little the family company can do without causing ripples across the nation.
At the helm of one of India’s foremost luxury retail companies, Mehta has been instrumental in redefining the contours of the luxury market in the country, melding global brands with local sensibilities while maintaining the essence of exclusivity. Famously, Mehta has stated that he doesn’t like the word “luxury” and its connotations, and prefers to eschew it to embrace “the finer things in life.” He casts a wide net with that phrase, for it could mean something as simple as bringing franchise food chain Pret a Manger to India, or the finest fashion from Ferragamo. Mono brands, global brands, designer brands, jewellery—he has overseen partnerships that have elevated the fashion stakes in India.
Founded in 2007, RBL burgeoned under Mehta’s leadership, transforming into a powerful entity that boasts partnerships with over 50 international brands, including global names listed from A to Z—literally Armani to Zegna. In fact, the list includes Paul & Shark, Kenneth Cole, Muji, Diesel, Brooks Brothers, Burberry, Bottega Veneta, Jimmy Choo, and Salvatore Ferragamo—and there are too many to list as it encompasses dozens of designer names one finds in the finest strata of the upper crust. Under his stewardship, the company has become a dominant force in the premium to luxury fashion sector, effectively bridging the gap between global luxury brands and the burgeoning Indian consumer base of UHNWI.
Reliance Industries Limited, the parent company, is a behemoth in the Indian economic landscape, valued at approximately US$125 billion (HK$971.3 trillion). RBL acts as its luxury retail arm, affording Mehta a unique platform to implement his vision for redefining luxury in India as the company operates over 420 mono-brand boutiques and 350 shop-in-shops across more than 60 cities, employing around 5,000 personnel across its retail outlets.
Mehta’s journey to the apex of luxury retail is underpinned by a robust academic foundation. He is a qualified chartered accountant and a cost and works accountant—credentials that have equipped him with a thorough understanding of financial intricacies. His career began with Price Waterhouse in Mumbai, but it was his tenure in advertising that honed his marketing acumen. As part of the senior leadership at Trikaya Grey Advertising—later acquired by WPP—he developed a keen sense of consumer psychology. His dual expertise in finance and marketing has allowed Mehta to navigate the complexities of luxury retail with finesse. He is not merely a businessman, but a strategist who understands that luxury is not just about products; it is an intricate tapestry woven from experience, heritage, and aspiration.
India’s luxury retail landscape is not without its challenges. Mehta has faced the daunting task of introducing foreign brands to a relatively young market that is still evolving in its understanding of luxury. His approach has been resolutely pro-globalisation, eschewing localisation in favour of maintaining the authenticity of the brands. “We work hard not to localise it,” he asserted in a previous interview, underscoring his commitment to delivering a consistent experience akin to that found in flagship stores abroad, so the experience when you enter Tiffany & Co in New Delhi should be mirroring the one in New York.
In a market increasingly characterised by a desire for exclusivity, Mehta understands the delicate balance between accessibility and desirability. He maintains that the allure of luxury is intrinsically linked to its scarcity. “The more exclusivity you create, the more hunger and desire you create,” he has said in past interviews, emphasising the importance of limited points of sale and a reluctance to engage in discounting practices that could undermine brand integrity. When Zegna suits were finding their way into wardrobes of India, they were never on sale or discounted at any given point, and it went on to make profits, nevertheless.
The narrative surrounding luxury is evolving and Mehta is at the head of this transformation. He recognises that today’s consumers are well-informed and discerning, often conducting thorough research before entering a store. As a result, RBL invests heavily in creating an immersive retail environment that tells the story of each brand’s heritage and craftsmanship, crafting an experience that transcends mere consumption. In recent years, Mehta has observed significant shifts in consumer behaviour. “Consumers wanted retail therapy and theatre,” he states, highlighting the importance of personal interactions in luxury retail. The return to in-store shopping is not merely a trend; it signifies a deeper emotional connection that consumers seek in their luxury experiences. The privileged few want an enhanced customer experience in person that neither click nor clickbait can offer.
Looking ahead, Mehta envisions a luxury market in India that is both expansive and refined. He believes that the key to success lies in catering to the top tier of Indian consumers—those who are increasingly willing to indulge in fine things. His ambitious plans include the opening of a luxury fashion boutique at the Jio World Centre, one of the largest exhibition and convention centres in India, further solidifying RBL’s position as a leader in luxury.
Despite the challenges, Mehta is optimistic about the trajectory of luxury in India. He maintains that the country’s growing affluent class will continue to drive demand for premium and luxury products, creating opportunities for brands that can deliver authentic experiences. Mehta stands as a pivotal, debonair figure in the narrative of luxury retail in India. His journey, marked by a blend of strategic foresight and unwavering commitment to authenticity, positions him not just as a leader, but as a true architect of luxury in a rapidly evolving market. As he continues to push the boundaries of what luxury means in ever-evolving India, Mehta embodies the essence of a new wave of retail leadership—one that values experience, heritage, and the ever-elusive allure of exclusivity.
You know, the finer things in life.
For more information and daily updates on confirmed speakers, click here.
