Adding another brand in its kitty, Reliance Retail Ventures Limited (RRVL) has gained a 100% stake in the retail unmentionables organizations under the ‘amante’ umbrella brand from MAS Brands, a completely claimed auxiliary of MAS Holdings, Sri Lanka. The ‘amanté business’, set up by MAS in 2007-08, participates in the retail and discount conveyance of premium unmentionables brands ‘amanté’, ‘Ultimo’ and ‘each dé by amanté’.
The items are sold through its stores and multi-brand outlets, just as by means of its online business channels across India and Sri Lanka. An assertion said Reliance Retail’s procurement of the ‘amante’ business “is one more advance in its excursion of offering unrivaled plan drove items and convincing incentive for clients”.
RRVL will, be that as it may, proceed to team up and collaborate with MAS to use its plan to-conveyance capacities in reasonable assembling and item advancement. The organizations have not uncovered the last procurement sum. Isha Ambani, Director, Reliance Retail Ventures, said the organization is glad to add the top notch, plan drove style and way of life brand ‘amante’ to its portfolio.
“MAS is an all around perceived item trailblazer and maker for a portion of the famous worldwide brands in this fragment – the organization and cooperation we assemble along with them will offer Indian clients top notch item quality and more prominent decisions in this section.”
MAS Holdings Chairman Mahesh Amalean said: “The obtaining by Reliance guaranteed that ‘amanté’ would profit from Reliance’s scale and retail skill, and that the brand we made and our workers in India and Sri Lanka will keep on profiting from being a piece of a grounded retail organization.”
As of late, Isha Ambani-drove Reliance Retail Ventures procured a 52 percent and 40 percent stakes in famous fashioner marks of Ritu Kumar and Manish Malhotra, separately. The Reliance Industries’ retail unit procured a greater part stake in Ritu Kumar’s famous planner names to tap on the quick growing extravagance fashioner market. Before that it had purchased a 40 percent stake in a manner house run by another famous Indian.
Read more business news
