KOLKATA: Reliance Industries Ltd (RIL) has rebranded its sports and lifestyle business IMG Reliance Ltd to RISE Worldwide Ltd.

The rebranded entity will continue to drive the full portfolio of brand properties formerly owned and operated under the banner of IMG-Reliance Ltd.

"RISE Worldwide aims to provide a comprehensive solution to the sports, lifestyle and entertainment industries as one inclusive force creating a symbiotic ecosystem that engages in nation building by inspiring the youth through our various initiatives," a RISE Worldwide spokesperson commented.

The company further stated that the transition to an independent brand identity is aimed at enabling various verticals currently within the sports and lifestyle businesses, an autonomy to operate and create industry driving strategies and world class consumer experiences, as the company focuses on further investing in the segment.

It may be recalled that RIL bought out IMG Worldwide’s stake in their sports management joint venture for Rs 52.08 crore in an all cash deal last month.

The RISE Worldwide portfolio includes sports and sponsorship consulting, fashion and sustainability platform building, athlete talent management, licensing, broadcast production, lifestyle and entertainment with properties such as Hero Indian Super League, Lakme Fashion Week, Tata Open Maharashtra, Jio Wonderland, The Voice of Fashion, SU.RE Sustainable Resolution and others.