Add-on Acquisition • Apparel/Textiles

Reliance Retail Acquires Clovia

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

Acquisition Context

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

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M&A Deal Summary
Date	March 20, 2022
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 Company

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 Overview 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 Context for Buyer	#
Overall	2 of 2
Sector: Apparel/Textiles	1 of 1
Type: Add-on Acquisition	2 of 2
Country: India	2 of 2
Year: 2022	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.	Buy	-

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.

Buy

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