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M&A Deal Summary

Reliance Retail Acquires Clovia

On March 20, 2022, Reliance Retail acquired apparel/textiles company Clovia

Acquisition Highlights
  • This is Reliance Retail’s 1st transaction in the Apparel/Textiles sector.
  • This is Reliance Retail’s 2nd transaction in India.

M&A Deal Summary
Date 2022-03-20
Target Clovia
Sector Apparel/Textiles
Buyer(s) Reliance Retail
Deal Type Add-on Acquisition
Advisor(s) BDA Partners (Financial)
Shardul Amarchand Mangaldas & Co. (Legal)

Target

Clovia

New Delhi, India
Clovia is a fast-growing lingerie brand that designs, manufactures, and sells innerwear, activewear, and personal care products under the women’s lifestyle brand name ‘Clovia’ through its own D2C digital platforms, marketplace platforms, exclusive brand outlets, and multi-brand retail outlets. Clovia was formed in 2013 and is based in New Delhi, India.

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Buyer(S) 1

Buyer

Reliance Retail

Mumbai, India
Category Company
Founded 2006
Sector Retail
DESCRIPTION

Reliance Retail operates an online and offline retail business in three core segments across India: food & grocery, fashion & lifestyle, and consumer electronics. Reliance Retail was founded in 2006 and is based in Mumbai, Maharashtra.

DEAL STATS #
Overall 2 of 2
Sector: Apparel/Textiles M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
Country: India M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-16 JustDial

Mumbai, India

JustDial is India’s dominant local search destination. The company caters to over 25 million unique users spread across 240 cities in India. This unique local search service is available on Phone, Web (justdial.com), WAP (wap.justdial.com), and SMS (53999). The company bridges the gap between buyers and sellers by helping buyers find the right providers of products and services while helping sellers improve the efficiency of their marketing channels. JustDial was founded in 1996 and is based in Mumbai, India.

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