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Reliance Retail acquires ‘amanté’ from MAS Holdings

Reliance Industries’ retail arm Reliance Retail Ventures Limited (RRVL) has acquired retail lingerie businesses under the ‘amante’ umbrella brand from MAS Brands, a wholly-owned subsidiary of Sri Lanka-based MAS Holdings, for an undisclosed amount.

The ‘amanté business’, which was established by MAS in 2007, is engaged in retail and wholesale distribution of premium lingerie under brands ‘amanté’, ‘Ultimo’ and ‘every dé by amanté’. The products are sold through company-owned stores and multi-brand outlets, as well as through its e-commerce channels across India and Sri Lanka.

Reliance Retail has acquired 100 per cent stake of ‘amante’ brand from MAS, according to a joint statement issued by the two companies. “RRVL will continue to collaborate and partner with MAS to leverage its design-to-delivery capabilities in sustainable manufacturing and product innovation,” the statement said.

Last year, RRVL had acquired a minority stake in Actoserba Active Wholesale, which owns and operates online lingerie store Zivame. In October, RRVL acquired a 52 per cent stake in veteran couturier Ritu Kumar’s firm Ritika Pvt Ltd for an undisclosed amount. Besides, Reliance Brands Ltd (RBL) has announced to pick a 40 per cent minority stake in renowned fashion designer Manish Malhotra’s MM Styles Pvt Ltd.

 

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