Reliance Brands, part of Reliance Retail Ventures Limited (RRVL), is planning to buy Ed-a-Mamma, a kidswear brand promoted by Bollywood actress Alia Bhatt for Rs 300-350 crore, claimed media reports.
Talks between Reliance Brands and the kidswear retailer, which mainly sells online are in the final stages and the deal is estimated to be around Rs 300 crore, claimed media reports.
The deal would help strengthen Reliance's children's wear portfolio, which is rapidly growing in the country and currently includes Trends and Indian rights to Mothercare.
Ed-a-Mamma brand is owned by Eternalia Creative and Merchandising, in which Alia Bhatt is a director. The company is an over Rs 150-crore brand that is primarily sold online and was incorporated in 2019.
According to a report by Economic Times the deal between Reliance and Ed-a-Mamma will be signed in the next seven to ten days.
An email sent to Reliance Brands remained unanswered by the time of filing of the story.
Established in 2007, Reliance Brands has collaborated with over 50 international brands and operates over 2,000 stores in India.
It has a portfolio of brand partnerships which includes AK-OK, Armani Exchange, Bally, Bottega Veneta, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Ermenegildo Zegna, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Mothercare, Muji, Paul & Shark, Paul Smith, Pottery Barn, Ritu Kumar, Salvatore Ferragamo, Satya Paul, Steve Madden, Superdry, Scotch & Soda, Tiffany & Co, Versace, Villeroy & Boch and West Elm.
While RRVL is the holding company of retail operations of billionaire Mukesh Ambani-led Reliance Industries Limited.
With inputs from Agencies.