BENGALURU: Reliance retail companiesIndia’s largest retailer said on Wednesday it would take a 51% stake in the domestic children’s clothing brand. Ed-a-Mammawhich continues its aggressive expansion ahead of a possible IPO.
Billionaire Mukesh Ambani Confidential Retail Ventures raised $1 billion from the Qatar Investment Authority last month at a valuation of $100 billion and is in talks with global investors to raise approximately another $2.5 billion by the end of September.
Reliance Retail has more than 18,000 stores, selling everything from groceries to electronics. In the apparel field, the company has ties to domestic brands such as fashion labels Ritu Kumar and Manish Malhotra, as well as foreign brands such as Armani and Marks & Spencer.
The joint statement from Reliance Retail and Ed-a-Mamma, owned by Indian actor Alia Bhatt, did not mention a deal value.
Ambani’s daughter Isha Ambaniwho was appointed to the board of directors of conglomerate Reliance Industries last month leads the retail business.
Billionaire Mukesh Ambani Confidential Retail Ventures raised $1 billion from the Qatar Investment Authority last month at a valuation of $100 billion and is in talks with global investors to raise approximately another $2.5 billion by the end of September.
Reliance Retail has more than 18,000 stores, selling everything from groceries to electronics. In the apparel field, the company has ties to domestic brands such as fashion labels Ritu Kumar and Manish Malhotra, as well as foreign brands such as Armani and Marks & Spencer.
The joint statement from Reliance Retail and Ed-a-Mamma, owned by Indian actor Alia Bhatt, did not mention a deal value.
Ambani’s daughter Isha Ambaniwho was appointed to the board of directors of conglomerate Reliance Industries last month leads the retail business.
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