{"id":120232,"date":"2021-11-12T17:29:20","date_gmt":"2021-11-13T00:29:20","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=120232"},"modified":"2021-11-12T17:29:20","modified_gmt":"2021-11-13T00:29:20","slug":"indian-billionaire-ambanis-reliance-industries-acquires-amante-from-mas-holdings","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2021\/11\/12\/indian-billionaire-ambanis-reliance-industries-acquires-amante-from-mas-holdings\/","title":{"rendered":"Indian billionaire Ambani\u2019s Reliance Industries acquires amant\u00e9 from MAS Holdings"},"content":{"rendered":"

Courtesy NewsIn.Asia<\/em><\/span><\/h2>\n\n\n

The acquisition by Reliance ensured that amant\u00e9 would benefit from Reliance\u2019s 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\u201d<\/h4>\n\n\n\n

Colombo, Nov 12 \u2013 MAS Holdings announced that one of its subsidiaries, MAS Brands, which owns and operates the retail lingerie business under the brand amant\u00e9, was acquired by Reliance Retail Ventures Limited, a subsidiary of the Ambani-owned Reliance Industries. The amant\u00e9 business, which was established by MAS in 2007\/8, engages in the retail and wholesale distribution of premium lingerie brands amant\u00e9, Ultimo and every d\u00e9 by amant\u00e9. The company sells its product through its own stores and multi-brand outlets, as well as through its e-commerce channels across India and Sri Lanka.<\/p>\n\n\n\n

In 2018, MAS Holdings completed an assignment with a leading global consultancy to develop a long-term stra- tegic plan for the conglomerate, which identified areas of growth based on its core competencies. Furthermore, the strategy prescribed that MAS source strategic partners for businesses outside of MAS\u2019 core competency. The divestiture of amant\u00e9 was an outcome of this plan, with MAS intent on finding the right partner to invest in the business enabling it to grow.<\/p>\n\n\n\n

This is a significant foreign investment in a Sri Lankan-owned lingerie business by a retail giant, which in turn, is owned by one of India\u2019s leading and diversified conglomerates, Reliance Industries. Reliance Retail will continue to invest and develop the business both in India and Sri Lanka.<\/p>\n\n\n\n

READ: Nykaa\u2019s founder becomes India\u2019s wealthiest self-made female billionaire<\/a><\/strong><\/p>\n\n\n\n

A transaction of this nature and the ability to attract the largest retailer in India during these times of uncer- tainty is a testament to the strength of the business that MAS and the management team of amant\u00e9 have built over the past decade.<\/p>\n\n\n\n

The acquisition by Reliance ensured that amant\u00e9 would benefit from Reliance\u2019s 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\u201d 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\u201d added MAS Co-Founder Ajay Amalean, who was directly responsible for overseeing the amant\u00e9 business from its inception.<\/p>\n\n\n\n

Ms. Isha Ambani, Director, Reliance Retail Ventures Limited, said, At Reliance, we pride ourselves in offering the best and enhancing choices to our customers and we are proud to bring high quality and design led products of \u2018amante\u2019. 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.\u201d<\/p>\n\n\n\n

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\u201d said Vivek Mehta, the CEO of MAS Brands.<\/p>\n","protected":false},"excerpt":{"rendered":"

Courtesy NewsIn.Asia The acquisition by Reliance ensured that amant\u00e9 would benefit from Reliance\u2019s 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\u201d Colombo, Nov 12 \u2013 MAS Holdings announced that one of its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-120232","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/120232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=120232"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/120232\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=120232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=120232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=120232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}