Reliance Retail Ventures Limited has purchased 100% of the retail lingerie operations under the ‘amante’ umbrella brand from MAS Brands, a wholly-owned subsidiary of MAS Holdings, Sri Lanka, according to MAS Holdings.
The MAS-owned ‘amante company’ specializes in the retail and wholesale distribution of luxury lingerie brands such as ‘amante,’ ‘Ultimo,’ and ‘every item by amante.’
The items are offered in India and Sri Lanka through its own stores and multi-brand outlets, as well as through its e-commerce platforms.
The purchase of the ‘amante’ business by RRVL, India’s largest retailer, is another step forward in the company’s mission to provide exceptional design-led items with compelling value propositions for customers. RRVL will continue to work with MAS to utilize its design-to-delivery skills in sustainable manufacturing and product development.
Isha Ambani, Reliance Retail Ventures Limited Director said, “At Reliance, we pride ourselves in offering the best and enhancing choices to our customers. We are proud to add the high quality, design-led fashion and lifestyle brand ‘amante’ to our portfolio. MAS is a well-recognized 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.”
“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,” stated Mahesh Amalean, Chairman MAS Holdings.
“This was a business MAS built from the ground up, leveraging on years of expertise in the lingerie business, so we are excited to see it transition to new shareholders and a parent organization that, without doubt, will enable the brand and the company to thrive” added MAS Co-Founder Ajay Amalean.
“The teams at MAS Brands are excited at the new opportunities and prospects that this acquisition brings about and are anticipating the strategic advantages and new learning that will come from working as part of a retail giant such as Reliance,” said Vivek Mehta, the CEO of MAS Brands India.
