Reliance Retail acquires amanté business of MAS Holdings
It will collaborate and partner with MAS to leverage design-to-delivery capabilities in sustainable manufacturing and product innovation.
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Hyderabad Reliance Retail Ventures Ltd (RRVL) has acquired Sri Lanka-based MAS Holdings' retail lingerie business arm under the umbrella brand – amante for an undisclosed amount. It will continue to collaborate and partner with MAS to leverage its design-to-delivery capabilities in sustainable manufacturing and product innovation.
Isha Ambani, Director of RRVL, said: "MAS is a well-recognised 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 'amanté' 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," said Mahesh Amalean, Chairman of 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 organisation that, without doubt, will enable the brand and the company to thrive," said MAS Co-Founder Ajay Amalean.
MAS Brands India CEO Vivek Mehta said, "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."
