Reliance Retail acquires lingerie brand Amante

By

Maverick Martins

Published
Nov 12, 2021

Reliance Industries retail arm 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.
 

Reliance Retail has acquired 100 percent stake of Amante brand from MAS, according to a joint statement issued by the two companies.
 
Amante launched in India in October 2007 and is part of MAS Brands, a subsidiary of MAS Holdings. The label sells lingerie and nightwear and has shops in many Indian cities along with a strong online presence.

Commenting on the acquisition, RRVL director Isha Ambani in a statement 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.”
 
MAS Holdings chairman Mahesh Amalean added: “The acquisition by Reliance ensured that Amante would benefit from Reliance's scale and retail expertise and that the brand we created and our employees in India and Sri Lanka will continue to benefit from being a part of a well-established retail company.”
 
RRVL, a subsidiary of RIL, is the holding company of all the retail companies of the Reliance Group.