 "Reliance Retail")
Reliance Retail Ventures Limited (RRVL), backed by Reliance Industries (RIL) on Sunday said that it has acquired an 89 per cent equity stake in Purple Panda Fashions Private Limited, which owns and operates Clovia.
Reliance Retail will invest Rs 950 crore via a combination of secondary stake purchase and primary investment.
Clovia, a bridge-to-premium D2C brand for women's innerwear and loungewear was launched by Pankaj Vermani, Neha Kant & Suman Choudhary.
With this, Reliance adds another brand to its portfolio in the innerwear segment, having already acquired Zivame and Amante brands
"Reliance has always been at the forefront of enhancing
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