Reliance Retail Acquired 89% Stake in Clovia

BANKING AND ECONOMY

  • With an investment of Rs 950 crore, Reliance Retail Ventures Ltd (RRVL) acquired 89% equity stake in Clovia.
  • RRVL has acquired an 89% equity stake in Purple Panda Fashions Pvt Ltd, which owns and operates the Clovia business.
  • Clovia’s founding team and management will own the remaining 11% stake of the company.

   Facts to know:

 

  • Clovia company was established in 2013.
  • Founders of Clovia: Neha Kant, Pankaj Vermani and Suman Chowdhury
Reliance Retail
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