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Reliance Brands buys out Screwvala in Zivame

28/07/2020 08:13 PM | Click to read full article

Reliance Brands has bought out the stake of Ronnie Screwvala-owned Unilazer Ventures in leading lingerie retailer Zivame and is in talks with other partners to take full control of the firm.

People close to the development said Reliance Brands, which sells several premium and luxury labels such as Jimmy Choo, Tiffany, Diesel and Mothercare in India, could pay up to Rs 1,200 crore - for acquiring Zivame. Zodius Capital and Khazanah Nasional Berhad will exit the firm.