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Reliance Retail acquires majority stake in innerwear brand Clovia
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New Delhi, March 21 (TIWN) Reliance Retail Ventures Ltd on Sunday announced it has acquired 89 per cent equity stake in Purple Panda Fashions, which operates the Indian lingerie brand Clovia.
The founding team and management will own the balance stake in Purple Panda. Clovia is launched by Pankaj Vermani, Neha Kant & Suman Choudhary in 2013.
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