Reliance Retail acquires ‘amanté ’ business of MAS Holdings

MAS Holdings has announced that Reliance Retail Ventures Limited (“RRVL”),  has acquired 100% of the retail lingerie businesses under the ‘amante’ umbrella brand from MAS Brands, a  wholly owned subsidiary of MAS Holdings, Sri Lanka.  

The ‘amanté business’, which was established by MAS in 2007/8, engages in the retail and wholesale distribution  of premium lingerie brands ‘amanté’, ‘Ultimo’ and ‘every dé by amanté’. The products are sold through its own  stores and multi-brand outlets, as well as through its e-commerce channels across India and Sri Lanka. 

The acquisition of the ‘amante’ business, by RRVL, India’s largest retailer, is another step in its journey of offering  superior design led products and compelling value proposition for customers. RRVL will continue to collaborate  and partner with MAS to leverage its design-to-delivery capabilities in sustainable manufacturing and product  innovation.  

Ms. Isha Ambani, Director, Reliance Retail Ventures Limited, said, “At Reliance, we pride ourselves in offering  the best and enhancing choices to our customers. We are proud to add the high quality, design-led fashion and  lifestyle brand ‘amante’ to our portfolio. MAS is a well-recognized 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” stated Mahesh Amalean, Chairman 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” added MAS Co-Founder Ajay Amalean, who was directly responsible for overseeing the  ‘amanté’ business from its inception.  

“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” said Vivek Mehta, the CEO of MAS Brands India.