Reliance Retail Buys 89% Stake In Lingerie Retailer Clovia: 5 Points

The company statement added that the founding team and management would own the balance stake. Clovia was launched in 2013 by Pankaj Vermani, Neha Kant and Suman Choudhary. In November last year, Reliance Retail had acquired the retail lingerie businesses under the Amante umbrella brand from MAS Brands, a wholly-owned subsidiary of Sri Lanka-based MAS Holdings. It had also bought a minority stake in Actoserba Active Wholesale, whi...