Mumbai: Reliance Retail Ventures Limited (RRVL) has acquired retail lingerie businesses under the ‘amante’ umbrella brand from MAS Brands, a wholly-owned subsidiary of Sri Lanka-based MAS Holdings, for an undisclosed amount.
The ‘amanté business’, which was established by MAS in 2007, is engaged in retail and wholesale distribution of premium lingerie under brands ‘amanté’, ‘Ultimo’ and ‘every dé by amanté’.
The products are sold through company-owned stores and multi-brand outlets, as well as through its e-commerce channels across India and Sri Lanka.
RRVL, the retail arm of billionaire Mukesh Ambani-led Reliance Industries Ltd, has acquired 100 per cent stake of ‘amante’ brand from MAS, according to a joint statement issued by the two companies.