Nandani Creation Limited has officially announced its strategic partnership with Reliance Fashion Factory through a press release dated April 23, 2026, under Regulation 30. This collaboration marks a significant milestone in the company's expansion strategy, enabling the women's ethnic wear brand "Jaipur Kurti" to extend its retail footprint across more than 25 Fashion Factory stores.

Partnership Overview

The alliance with Reliance Fashion Factory, formerly Brand Factory, represents India's largest retail chain of discount fashion hubs. This partnership provides Nandani Creation with access to an established network that offers high-end national and international brands at significantly reduced prices throughout the year.

Strategic Benefits and Operational Improvements

The collaboration addresses critical operational challenges in the retail fashion sector, focusing on inventory optimization and working capital efficiency. According to the company, this partnership creates a structured channel for liquidating aged and slow-moving stock while unlocking capital stuck in low sales-through inventory.

Key Operational Advantages

Reliance Fashion Factory operates on a "Fashion 365 Days" promise, ensuring discounts are available year-round. The stores serve as one-stop destinations for various fashion needs, including western wear, ethnic Indian wear, footwear, and accessories.

Management Commentary

Anuj Mundhra, Chairman & Managing Director of Nandani Creation Limited, commented on the partnership: "This partnership with Reliance Fashion Factory will deepen our presence in the value retail segment and aligns with our strategic focus on capital efficiency. The successful completion of stock churning reflects our continued focus on disciplined inventory management and working capital efficiency."

He further added: "This initiative enables us to unlock value from existing inventory through a structured and scalable channel, thereby improving inventory turns, reducing holding costs, and optimizing working capital deployment. It also supports better demand-supply alignment across our primary sales channels, helping protect margins and improve overall sell-through."

Existing Retail Network

Beyond this new partnership, Nandani Creation operates an extensive retail network including 8 company-owned company-operated (COCO) stores across major cities and 5 franchise-owned franchise-operated (FOFO) stores. The company also maintains presence in 22+ Shoppers Stop stores, 80+ SIS stores, 80+ Reliance Trends stores, 35+ Avantara & Kalanikethan stores, and 20+ Reliance Centro stores.

The company also retails through major e-commerce platforms and maintains its proprietary website at www.jaipurkurti.com , along with mobile applications available on both App Store and Play Store. Additionally, Nandani Creation has expanded into quick commerce through Swiggy InstaMart for rapid delivery and increased accessibility.

Nandani Creation has emerged as a standout performer in the small-cap segment, delivering impressive returns of over 42% in just nine trading sessions of 2025. The stock was trading 1.50% higher at ₹38.67 per share on Tuesday, continuing its strong momentum that has captured significant investor attention.

Business Update Drives Rally

The surge in Nandani Creation's share price was triggered by a positive business update announced on January 7, 2025, regarding its flagship brand Jaipur Kurti. The company reported robust year-on-year sales growth, supported by sustained consumer demand across its ethnic and contemporary apparel portfolio.

The growth was driven by improved sell-through across both offline and online channels, higher customer traction, and strong performance across key categories including festive wear, daily wear, office wear, and occasion wear. This achievement places Jaipur Kurti among a select group of Indian fashion brands that have reached this scale while maintaining a profitable operating track record.

Strategic Transformation Journey

According to Anuj Mundhra, Chairman & Managing Director of Nandani Creation Limited, the company has undergone a significant strategic transformation. From 2014 to 2022, the company built a strong first-mover advantage with a digital-first model, achieving nationwide reach and a 52% sales CAGR.

However, challenges including rising competition and customer acquisition costs as a pure online player pushed the company to evolve into a well-rounded brand. In FY 2023 and FY 2024, this strategic shift led to temporary moderation in sales as channel parity was established. The current phase (2025-2028) focuses on strengthening omni-channel presence, transforming from an online supplier to a prominent national brand.

Company Profile and Market Position

Established in 2012, Nandani Creation is a Jaipur-based, online-first fashion company specializing in women's Indian wear. The company operates multiple brands including:

• Jaipur Kurti (flagship brand)
• Amaiva – By Jaipur Kurti
• Jaipur Kurti Luxe
• Desi Fusion

With its head office located in Jaipur, the company drives sales through a strategic mix of online platforms and offline retail stores, successfully establishing an omni-channel presence in the competitive fashion retail market.

Stock Performance Analysis

Despite the recent surge, Nandani Creation shares have exhibited significant volatility. The stock has gained nearly 34% over the past month but has declined 9% in the last six months. Over a five-year period, the stock has descended over 36%, reflecting the challenges faced during its strategic transformation.

Nandani Creation shares are listed exclusively on the National Stock Exchange (NSE), with the stock trading in the small-cap segment under ₹50 per share.