Reliance Retail has been expanding its apparel and innerwear portfolio
purchased an 89% equity stake in Purple Panda Fashions, which owns and operates Clovia, for $125 million.
Purple Panda Fashions’ flagship brand Clovia is a direct-to-consumer online retail innerwear and loungewear brand for women. Clovia offers over 3,500 product styles that have been purchased by over 3 million women, according to its website. Based in Noida, India, Clovia was cofounded in 2012 by husband and wife Pankaj Vermani and Neha Kant, Abhay Batra, Soumya Kant and Suman Choudhary.
, it also acquired online intimate wear brands Zivame in 2020 and Amante in 2021. In December 2020, Clovia raised $4 million in a pre-Series C funding round led by a clutch of investors including Golden Birch Investments and SheCapital Venture Fund, a Delhi-based early stage fund for female businesses.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Mukesh Ambani’s Reliance Retail Acquires Majority Stake In Online Retail Brand Clovia For $125 MillionThe retail arm of billionaire Mukesh Ambani’s Reliance Industries purchased an 89% equity stake in Purple Panda Fashions, which owns and operates Clovia, for $125 million.
Leer más »
Amazon Loses Round One of Indian Retail Battle RoyaleHeard on the Street: A defeat at the hands of one of India’s wealthiest men—who employed some bare-knuckle business techniques—shows Amazon has a tough road ahead in the crucial growth market
Leer más »
Autocar Business podcast: what the retail agency model means for the car industry | AutocarThe latest Autocar Business podcast delves further into questions surrounding a transition to the agency retail model. With input from senior executives from across the business, they explain how the agency model will affect OEMS, dealers and customers
Leer más »
US retail spending slows as inflation starts to biteAfter beginning the year in a buying mood, Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for food, gasoline, and shelter are taking a bigger bite of their wallet.
Leer más »
US retail spending slows as inflation starts to biteAfter beginning the year in a buying mood, Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for food, gasoline, and shelter are taking a bigger bite of their wallet.
Leer más »
Mukesh Ambani’s Reliance Retail Acquires Majority Stake In Online Retail Brand Clovia For $125 MillionThe retail arm of billionaire Mukesh Ambani’s Reliance Industries purchased an 89% equity stake in Purple Panda Fashions, which owns and operates Clovia, for $125 million.
Leer más »