Reliance Retail Ventures Limited (RRVL), the retail arm of Reliance Industries, has acquired retail lingerie business under the brand ‘Amante’ umbrella from MAS Brands, a wholly owned subsidiary of Sri Lanka-based MAS Holdings.
Established in 2007 by MAS, ‘Amante Business’ is engaged in retail and wholesale distribution of premium lingerie under the brands ‘Amante’, ‘Ultimo’ and ‘Every Day by Amante’. 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.
According to a joint statement issued by both the companies, Reliance Retail has acquired 100 per cent stake in ‘Amante’ brand from MAS. “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 acquired a minority stake in Ectocerba Active Wholesale, which owns and operates online lingerie store Jivam. In October, RRVL acquired a 52 per cent stake in Ritika Pvt Ltd, the firm of veteran couturier Ritu Kumar, for an undisclosed amount. In addition, Reliance Brands Limited (RBL) has announced to take 40 percent minority stake of renowned fashion designer Manish Malhotra in MM Styles Pvt Ltd.
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