 "Reliance to acquire Alia Bhatt-promoted kidswear brand Ed-a-Mamma")
Reliance Brands, part of Reliance Retail Ventures Ltd (RRVL), is planning to buy Ed-a-Mamma, a kidswear brand promoted by Bollywood actress Alia Bhatt, according to an industry source.
The leading retailer would ultimately acquire the company, which specialises in providing sustainable clothing options for kids at affordable rates.
Talks between Reliance Brands and the kidswear retailer, which mainly sells online are in the final stages, the industry source said.
According to a media report, the deal is estimated to be around Rs 300 crore.
The deal would help strengthen Reliance Brands' play into the branded kidswear segment, which is rapidly growing in the country.
Ed-a-Mamma brand is owned by Eternalia Creative and Merchandising, in which Alia Bhatt is a director. The company was incorporated in 2019.
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An e-mail sent to Reliance Brands remained unanswered by the time of filing of the story.
Established in 2007, Reliance Brands has collaborated with of over 50 international brands and operates over 2,000 stores in India.
It has a portfolio of brand partnerships which includes AK-OK, Armani Exchange, Bally, Bottega Veneta, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Ermenegildo Zegna, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Mothercare, Muji, Paul & Shark, Paul Smith, Pottery Barn, Ritu Kumar, Salvatore Ferragamo, Satya Paul, Steve Madden, Superdry, Scotch & Soda, Tiffany & Co, Versace, Villeroy & Boch and West Elm.
While RRVL is the holding company of retail operations of billionaire Mukesh Ambani-led Reliance Industries Ltd.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)