Entertainment Desk: Reliance Industries is desperate to expand its business in the retail sector. Over the past few years, Mukesh Ambani’s company has strengthened its presence across multiple brands. Reliance is signing contracts with one company after another this year. The latest name added to that list is Alia Bhatt’s Ed-A-Mamma deal with Reliance.
Reliance Industries bought 51 percent stake in Alia’s company. As a result, Reliance has become the majority shareholder of the company. It may be noted that besides acting in movies, Alia Bhatt started her journey as an entrepreneur 3 years ago. Started a clothing brand called Ed-A-Mamma. It was managed by Eternalia Creative Company. The director of this organization is Alia Bhatt.
On the other hand, in a statement, Reliance Industries informed that the deal was done through Reliance Retail Venture Limited (RRVL). The special thing is that the baton of Reliance Retail is currently in the hands of Isha Ambani. Since taking charge, he has been dealing with small companies one after another, acquiring them. Alia’s Ed-A-Mamma has recently joined the list.
Reliance Retail Ventures Limited said that the acquisition will enable Reliance to strengthen its presence in the children’s apparel segment. However, the exact amount of the deal is still unclear. But speculations about this deal have been going on since July. At the time, multiple reports were claiming that Reliance Industries could bag the Rs 300-350 crore deal. However, the final price of the deal is yet to be disclosed.
It should be noted that Ed-a-Mamma primarily manufactures children’s and maternity wear. This brand makes clothes for children aged 2 to 12 years. In 2022, the company ventured into maternity wear. Alia Bhatt herself was pregnant at that time. Later Ed-A-Mamma started making clothes for newborns as well.
Bollywood actress Alia Bhatt tweeted after this deal. Aid-a-Mamma is a boots-strapped initiative with a larger mission, he writes. Reliance Retail is the largest retailer in the country. We both have the same goal. We both want to promote indigenization.