31 Aug '15, 10pm

STOCK TO WATCH: #RelianceCapital and Singapore company to sell affordable luxury products online

STOCK TO WATCH: #RelianceCapital and Singapore company to sell affordable luxury products online

and a Singapore-based partner have made a strategic investment in a new online venture that will sell "more affordable" luxury clothing, accessories and household products. The investment in Luxuryhues.com was made through a joint venture in which Anil Ambani's Reliance Capital and investment banker Ravi Viswanathan are equal partners. "Ecommerce activity in India has changed drastically and given the large young population in the country, opportunities in this space are many," Viswanathan told ET. He did not disclose the amount invested, citing confidentiality of the deal. Luxuryhues.com was cofounded and is owned by Amit Dutta and Peter Raj Kapoor who run Luxury Hues Group Consultancy Services (India) Pvt, a Gurgaon-based company engaged in luxury and lifestyle businesses, including a concierge firm. Dutta said the portal will offer high-end brands at "the best wholesale...

Full article: http://economictimes.indiatimes.com/industry/cons-product...

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