Reliance Retail acquires majority stake in D2C lingerie brand Clovia for INR 950 Cr
Shortpedia
Content Team
Image Credit: Indian Express
Reliance Retail has acquired an 89% stake in Purple Panda Fashions, the parent company of D2C lingerie startup Clovia. The transaction has an investment of INR 950 Cr from Reliance Retail, which includes the purchase of shares and primary investment in the startup. Clovia had last raised $10 Mn in a Series B funding round in 2019.
