1. News
November 12, 2021

Reliance Retail buys amanté lingerie brand for undisclosed sum

RRVL will continue to work with MAS to use its design-to-delivery capabilities following the acquisition.

Reliance Retail Ventures (RRVL), the retail business of Indian conglomerate Reliance Industries (RIL), has purchased lingerie brand amanté.

Established in 2007, amanté is a wholly owned subsidiary of Sri Lanka-based lingerie manufacturer MAS Holding.

The company is involved in the retail and wholesale distribution of premium lingerie under several banners, including amanté, Ultimo and every dé by amanté.

The products are available via company-owned stores, multi-brand outlets and online stores in India and Sri Lanka.

The financial terms of the transaction have not been disclosed.

MAS co-founder Ajay Amalean said: “This was a business MAS built from the ground up, leveraging on years of expertise in the lingerie business, so we are excited to see it transition to new shareholders and a parent organisation that, without doubt, will enable the brand and the company to thrive.

“RRVL will continue to collaborate and partner with MAS to leverage its design-to-delivery capabilities in sustainable manufacturing and product innovation.”

The acquisition comes after RRVL acquired a minority stake in Actoserba Active Wholesale, which owns and operates online lingerie store Zivame, last year.

Last month, RRVL bought a controlling stake in stake in Ritika, a company owned by Indian designer Ritu Kumar, for an undisclosed sum.

RRVL director Isha Ambani said: “We are proud to add the high quality, design-led fashion and lifestyle brand amante to our portfolio.

“MAS is a well-recognised product innovator and manufacturer for some of the iconic global brands in this segment – the partnership and collaboration we build together with them will offer Indian customers world-class product quality and greater choices in this segment.”

Last month, RRVL reached a master franchise agreement with US-based convenience store chain 7-Eleven to open 7-Eleven stores in India.

The partnership opened its first Indian store in Mumbai on 9 October.