RRVL acquires the ‘lover’ activity of MAS Holdings

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

The “amanté” company, created by MAS in 2007/8, is dedicated to the retail and wholesale distribution of the high-end lingerie brands “amanté”, “Ultimo” and “every dé by amanté”. The products are sold through its own multi-brand stores and outlets, as well as through its e-commerce channels in India and Sri Lanka.

The acquisition of the “lover” business by RRVL is another step in its journey to deliver superior design products and a compelling value proposition to customers. RRVL will continue to collaborate and partner with MAS to leverage its design-to-delivery capabilities for sustainable manufacturing and product innovation.

Isha Ambani, Director of Reliance Retail Ventures Limited, said: “At Reliance, we pride ourselves on delivering the best choices and improving choices for our customers. We are proud to add the high quality fashion and lifestyle brand “Lover” 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 are building with them will provide Indian customers with world-class product quality and greater choice in this segment. .

“The acquisition by Reliance allowed ‘amanté’ to benefit from Reliance’s size and retail expertise, and the brand we created and our employees in India and Sri Lanka will continue to build. benefit from being part of a well-established retail company, ”said Mahesh Amalean, Chairman of MAS Holdings. “It was a MAS company built from the ground up, drawing on years of expertise in the lingerie industry, so we are delighted to see it move on to new shareholders and a parent organization which without any doubt, will allow the brand and the company to thrive, ”added MAS co-founder Ajay Amalean, who was directly responsible for overseeing the“ lover ”business since its inception.

“The MAS Brands teams are excited about the new opportunities and perspectives this acquisition brings and anticipate the strategic benefits and new learnings that will come from working at a retail giant like Reliance,” said Vivek Mehta, CEO of MAS Marques India.

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