India-based Reliance Retail Ventures Ltd (RRVL) has entered an agreement to acquire Ed-a-Mamma, a children’s and maternity-wear clothing brand.
In a media release posted on Reliance Industries’ Facebook page, RRVL signed a joint venture with the brand to acquire a 51% majority stake.
The acquisition will enable the brand to expand into new categories such as personal care and baby furniture.
It will also provide Ed-a-Mamma with access to Reliance’s supply chain, retail and marketing network.
Ed-a-Mamma, which was founded in 2020 by actor Alia Bhatt, operated as an online brand but eventually ventured into the offline channel in department stores.
It initially started as an apparel brand and expanded into maternity wear, followed last year with a line for infants and toddlers.
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Financial terms of the transaction have not been disclosed, but the brand is said to be worth more than Rs1.5bn ($18.03m), according to media reports.
RRVL director Isha Ambani said: “At Reliance, we have always admired brands that lead with a strong purpose and embody a unique design ethos exemplified perfectly by Ed-a-Mamma and its founder Alia Bhatt.
“With sustainability as its core proposition the brand has garnered acclaim for its meticulous attention to detail, using ethically sourced materials and eco-conscious production processes. This aligns seamlessly with Reliance Brands’ vision of fostering a more responsible future for the fashion industry.”
The acquisition comes after Qatar Investment Authority invested Rs82.78bn into RRVL last month.
In May, RRVL completed the acquisition of the Indian business of Germany-based multinational food wholesaler Metro in a deal valued at €300m ($327.19m).