India's Reliance buys VC-backed Clovia
Clovia, an India-based lingerie and sleepwear retailer backed by several VC investors, has been acquired by Reliance Retail Ventures (RRVL) at an approximate valuation of USD 140m.
RRVL, the holding entity for all retail assets under domestic conglomerate Reliance Industries, will pay USD 125m for 89% of Clovia, according to a statement. The transaction comprises a combination of...
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