Clovia is a famous brand for women's interior wear and loungewear. The company is owned and operated by Parbal Panda Fashions Private Limited.
Clovia started in 2013. The company was launched by Pankaj Barmani, Neha Kant and Suman Chaudhary. This is a bridge-to-premium D2C brand for women's clothing and loungewear.
Reliance Retail has already acquired The Zivame and Amante brands through acquisition of this company. The garment manufacturing company has added another brand to its portfolio in terms of internal clothing.
Regarding investment, Isha Ambani, Director, Reliance Retail Ventures Limited (RRVL), said, "Reliance always sells good quality clothes at customer choice and low prices. We are delighted to add the clothing brand 'Clovia' to the innovation of quality and design in our portfolio. We have started working with Clovia to further up our business and attract customers. Hope to play a leading role in women's clothing in the next few months. ’’
The company will be able to dress up for world class design and modern fashion consistent with Ambani's thinking, said Pankaj Varmani, founder and CEO of Clovia. "Through this partnership, we can promote more of the brand," he said. Our outfits will become even more attractive among the new generation through world class quality, design and fashion wear in this category. Clovia is the most loved brand in this dress. The customer will get the dress product at attractive prices. ’’
This is reliance retail's second acquisition in the current month. Earlier in March, the company announced investment for a large part of thirty-year designer brand Abraham & Tagore (A&T).
RRVL is a subsidiary of Reliance Industries Limited and the hold company of all retail companies under RIL Group. Sources in the company said RRVL received a net of Rs 1576.29 crore ($21.6 billion) and Rs 5481 crore ($750 million) in the financial year March 31, 2021.
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