Mukesh Ambani‘s company may soon buy Bollywood industry’s well-known actress Alia Bhatt’s company Ad-e-Mamma. Talks about this company are in final stages. Mukesh Ambani can pay Alia Bhatt 300 to 350 crore rupees for this company. The deal is expected to be finalized in the next 10 days. After this deal, Reliance Retail’s child apparel portfolio will increase.
Reliance will buy Alia’s company
Reliance Brands Ltd is in talks to fully acquire actress Alia Bhatt’s kids apparel brand Add-A-Mamma for Rs 300-350 crore, two industry officials said. Reliance Brands is a subsidiary of Reliance Retail Ventures, the holding company for the group’s retail business. According to media reports, Ad-e-Mamma is a brand worth over 150 crores and is primarily sold online. This is expected to strengthen Reliance’s kidware portfolio. The country’s largest retailer currently operates primarily through the value fashion chain Trends as well as Mothercare, for which it holds the India rights.
The deal is expected to close within 10 days
There was no statement from Reliance and Eternia Creative & Merchandising, the unit behind Ad-A-Mamma. Bhatt is also a director in Eternalia, as per information provided to the Registrar of Companies. An official with knowledge of the deal said talks between Reliance and Ad-e-Mamma are in final stages and the deal is likely to be finalized in the next seven to 10 days. This will give Reliance a strong hold on the kidwear market.
This brand is being sold here
Ad-A-Mamma was launched in 2020 and later expanded into teenage and maternity wear segments. The brand is sold through its own webstore and retail chains such as Lifestyle and Shoppers Stop, apart from ecommerce platforms such as Myntra, Ajio, FirstCry, Amazon and Tata Clique. Reliance Brands Group’s retail venture that partners with independent fashion brands in the luxury, bridge-to-luxury, high premium and high street lifestyle spaces such as Armani Exchange, Burberry, Bally, Canali, Diesel, Gas, Hugo Boss, Hamleys.