Source: msn.com

The opening of U.S. designer Tracy Reese's initial store in Manhattan's oh-so-trendy meat packing district drew dozens of celebrities from across the fashion world. Anna Wintour of Vogue rubbed shoulders with designers Nicole Miller and Rachel Roy, style guru Andre Leon Talley, actress Elizabeth Rohm, and Om Bathija. Om, um, who?

He's the Indian-born banker who, with Bombay-based partner Vijay Aggarwal, owns 70% of Reese's company, TR Designs. "Our strengths were harmonizing," says Bathija. "She had design skills, a great product, and presence but no infrastructure. We didn't have design or marketing sensibility but had the infrastructure, administrative skills, and financial means to support her." Expect to see people like Bathija at a lot more fashion shindigs.

Reese's is one of a rising number of high-end U.S. clothing and textile brands backed or owned absolute by Indian entrepreneurs. Bombay's Texport Garments holds a bulk share in men's shirt maker Robert Graham. Haresh Tharani, an Indian-born financier now income in New York City, bought the Bill Blass brand in 1999. And in January, Indian textile creator GHCL paid $18.5 million for Virginia-based linens producer Dan River.