According to a report from ET, Reliance Brands, a division of Reliance Retail Ventures, will buy Alia Bhatt’s childrenswear company Ed-a-Mamma for between Rs 300 and Rs 350 crore.
Ed-a-Mamma, which was established in 2020, sells clothing for kids 2 to 14 years old, both boys and girls. The business sells its goods on its own website as well as other online stores including Myntra, AJIO, Amazon, Flipkart, and others.
The article states that the negotiations are nearing their conclusion and that a contract will probably be completed within the next seven to ten days.
With extensive investments in other fashion brands like Armani Exchange, Burberry, Diesel, Gas, and Jimmy Choo among others, as well as extensive experience with its own clothing line, Reliance Trends, this acquisition appears to be more of a strategic one.
Ed-a-Mamma has not yet submitted its financial results for FY23, but in FY22, the company increased by 4.3X to Rs 16.2 crore. However, during that time it reported a loss of Rs 6.6 crore.
According to a Morgan Stanley report, Reliance has made investments totaling more than $5.6 billion through its subsidiaries in various Indian industries. Some of its notable bets in the Indian startup ecosystem include Glance, Dunzo, Fynd, Haptik, Embibe, Addverb Technologies, and Saavn, among others.
