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Reliance Retail Buys Majority Stake In Clovia For Rs 950 crore

Reliance Retail has bought an 89% stake in Purple Panda Fashions, which owns and operates Clovia, for Rs 950 crore.

Sesa Sen
A sale sign at a Reliance Trends’ store. (Photo: BloombergQuint)

Reliance Retail Ventures Ltd. has acquired a majority stake in women’s intimate wear brand Clovia as the Mukesh Ambani-owned conglomerate’s unit aims to become a one-stop shop for everything from apparel to pharmacy and furniture.

Also Read: Reliance Retail Set To Be Next Growth Engine For RIL: Goldman Sachs

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Sesa Sen
Sesa is Principal Correspondent tracking India's consumption story. She wri... more
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