Reliance Industries subsidiary, Reliance Retail Ventures (RRVL), has acquired a majority 89 per cent equity stake in Purple Panda Fashions Pvt Ltd, a company statement showed. Purple Panda operates the online lingerie brand Clovia. With this, Reliance Retail will further expand its reach in the innerwear segment. The RIL's retail arm has already acquired Zivame and Amante brands in the past.
Reliance Retail Ventures Ltd (RRVL) on Sunday announced the acquisition of a majority 89 per cent equity stake in Clovia, an industry leader in the bridge-to-premium intimate wear category, with an investment of Rs 950 crore. RRVL has acquired 89 per cent equity stake in Purple Panda Fashions Pvt Ltd, which owns and operates the Clovia business, through a combination of
Get latest articles and stories on Latest News at LatestLY. Reliance Retail Ventures Ltd (RRVL) on Sunday announced the acquisition of a majority 89 per cent equity stake in Clovia, an industry leader in the bridge-to-premium intimate wear category, with an investment of Rs 950 crore. Latest News | Reliance Retail Acquires 89% Stake in Lingerie Retailer Clovia for Rs 950 Cr.