Reliance Brands Ltd is in talks to fully acquire actress Alia Bhatt’s children’s wear brand Ed-a-Mamma for Rs 300-350 crore, The Economic Times reported on Monday. Separately, Styched said it has acquired Flatheads, a Direct-to-Customer (D2C) online casual sneaker startup that gained fame on Shark Tank India Season 2.
Reliance set to buy Alia Bhatt’s Ed-a-Mamma
Reliance Brands Ltd is in talks to fully acquire actress Alia Bhatt’s children’s wear brand Ed-a-Mamma for Rs 300-350 crore ($36-42 million), The Economic Times reported on Monday.
Ed-a-Mamma is an over Rs 150-crore brand, according to media reports, and is primarily sold online. It is expected to strengthen the Reliance children’s wear portfolio.
“Talks between Reliance and Ed-a-Mamma are in the final stages and (an agreement is) likely to be signed in the next seven to 10 days,” the report said “It will give Reliance a greater toehold in the kidswear market.”
Styched buys sneaker brand Flatheads
Styched said it has acquired Flatheads, a Direct-to-Customer (D2C) online casual sneaker startup that gained fame on Shark Tank India Season 2.
Founded in 2018 by Ganesh Balakrishnan and Utkarsh Biradar, Bangalore-based Flatheads is a D2C brand specialising in designing all-day wear casual sneakers for the urban audience.
Styched said will expand into the footwear sector with the acquisition of Flatheads.
The company did not disclose the financial details of the transaction.