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Reliance Retail acquires lingerie brand Amante

Nov 17, 2021
Reliance Retail acquires lingerie brand Amante

India

Reliance Retail has fully acquired Amanté lingerie brand from its Sri Lankan owner, MAS Holdings, for an undisclosed amount.

In a press release, Colombo-based textile company MAS Holdings said Reliance Retail Ventures, the holding company of India’s largest retailer, “acquired 100% of the retail lingerie businesses under the ‘Amanté’ umbrella brand from MAS Brands”. Amanté is the latest in a string of acquisitions by Reliance Retail in the last two years.

Established in 2007, Amanté sells lingerie brands ‘Amanté’, ‘Ultimo’ and ‘every dé by Amanté’ through its own stores and multi-brand outlets, as well as Reliance Retail, India’s largest retailer by sales and the number of stores, operates more than 13,000 outlets nationwide. The stakes are high between Jeff Bezos and Mukesh Ambani in their fight over a near-bankrupt company through its ecommerce channels in India and Sri Lanka. MAS Holdings is one of the largest textile manufacturers in South Asia with facilities in 16 countries. It supplies products to global bigwigs like Victoria’s Secret and Marks and Spencer

Reliance Retail, India’s largest retailer by sales and the number of stores, operates more than 13,000 outlets nationwide. Retailers in India are again shifting to expanding stores amid a full revival in business to the pre-pandemic levels.

Source: The Economic Times

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