In a joint venture, Reliance Retail has acquired a 51% share in the Ed-a-Mamma children’s and maternity clothes line, which is promoted by Bollywood actress Alia Bhatt.
Reliance Retail Ventures Ltd (RRVL), the holding company for Reliance Industries Ltd (RIL), the business empire of billionaire Mukesh Ambani, stated in a statement that it seeks to put the Ed-a-Mamma brand on a dynamic growth trajectory.
It will be “closely collaborating with founder Alia Bhatt and leveraging the management strength of its subsidiary Reliance Brands Limited to spearhead the business. This partnership also marks a significant step forward in promoting sustainable fashion for the younger generation,” said a joint statement.
“Reliance Retail Ventures Ltd (RRVL) signs a joint venture with Alia Bhatt’s conscious clothing brand of kids and maternity-wear Ed-a-Mamma for a 51 per cent majority stake,” it said.
Ed-a-Mamma was founded by Alia Bhatt in 2020 as an apparel brand for 2–12 year-olds. From its online debut to its offline presence in department stores, Ed-a-Mamma quickly established itself as a favoured choice among discerning consumers, it said.
Last year, it had expanded its range to maternity wear.
RRVL Director Isha Ambani said: “At Reliance, we have always admired brands that lead with a strong purpose and embody a unique design ethos exemplified perfectly by Ed-a-Mamma and its founder Alia Bhatt.
“With sustainability as its core proposition the brand has garnered acclaim for its meticulous attention to detail, using ethically sourced materials and eco-conscious production processes. This aligns seamlessly with Reliance Brands’ vision of fostering a more responsible future for the fashion industry,” she added.
Alia Bhatt said: “Isha and I found a wavelength as two new moms discussing what mothers want. I told her what we were already doing at Ed-a-Mamma and how there’s scope to do so much more. She said Reliance can bring strengths in everything from supply chain to retail to marketing.
“With this joint venture, we look forward to taking Ed-a-Mamma to many more kids and parents and continuing to inspire a love for nature through everything we do,” she said.
The top retailer, RRVL, reported a combined revenue of Rs 2.60 lakh crore (USD 31.7 billion) for the fiscal year that ended on March 31, 2023.
In the year ended March 31, 2023, RRVL is the leading retailer and had reported a consolidated turnover of Rs 2.60 lakh crore (USD 31.7 billion).
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.
On Wednesday shares of the RRVL closed 0.1% up at Rs. 2,426.35 on NSE.
The post The majority stake in kids’ clothing company Ed-a-Mamma promoted by Alia Bhatt is acquired by Reliance Retail appeared first on Trade Brains.
