Brands
Reliance Brands acquires Rhea Retail for $30 million
MUMBAI: Mukesh Ambani led Reliance Brands Limited, a subsidiary of Reliance Industries Ltd, has acquired Rhea Retail Pvt. Ltd. Reliance acquired 100 per cent stake in the company for $30 million (Rs 203.46 crore)in an all cash deal.
Rhea was incorporated in 2007 and is in the business of selling of products in India for expectant mothers and in general merchandise for children. The company’s turnover for FY 2017-18 stood at Rs 200 Cr.
With this acquisition, Reliance Brands will expand its product portfolio.
The acquisition of Rhea does not fall under related party transaction and none of the promoters / promoter group / group companies have any interest in Rhea.
Reliance Brands has a portfolio of over 40 international brands. These include luxury, bridge-to-luxury, high-premium and high-street lifestyle segments such as Gas, Diesel, Marks & Spencer and Steve Madden.
In 2017, Reliance Brands acquired a 46.6 per cent stake in Genesis Luxury Fashion Pvt. Ltd, which operates brands such as Michael Kors, Armani and Canali.
Brands
Ola Electric announces Champion Mahotsav with Rs 10,000 benefits
Three-day offer across scooters and motorcycles celebrates India’s T20 World Cup win
BENGALURU: Ola Electric has announced #ChampionMahotsav, a three-day nationwide celebration offering benefits worth Rs 10,000 across its vehicle portfolio, following India’s historic third ICC Men’s T20 World Cup victory.
During the limited-period celebration, customers can avail benefits worth Rs 10,000 on any Ola scooter or Roadster motorcycle, extending the festive mood among fans after the national triumph.
An Ola Electric spokesperson said the initiative builds on the strong response received during the company’s earlier Match Mahotsav campaign held during the tournament final.
“Our Match Mahotsav during the T20 World Cup Final received an incredible response from fans across the country. To celebrate India’s historic third T20 World Cup victory, we are extending the celebrations for three more days with #ChampionMahotsav, offering benefits worth Rs 10,000 on any Ola vehicle,” the spokesperson said.
Ola Electric currently offers a broad portfolio of Gen 3 S1 scooters and Roadster X motorcycles.
The premium Gen 3 S1 range includes the Ola S1 Pro+ in 5.2kWh and 4kWh configurations, and the Ola S1 Pro in 4kWh and 3kWh options, priced at Rs 1,85,338, Rs 1,65,338, Rs 1,39,999 and Rs 1,19,999 respectively.
In the mass segment, the company offers the Ola S1 X+ with a 4kWh battery, along with the Ola S1 X in 2kWh, 3kWh and 4kWh configurations, priced at Rs 1,14,999, Rs 77,999, Rs 93,999 and Rs 1,09,999 respectively.
Ola’s motorcycle line-up includes the Ola Roadster X+ in 4.5kWh and 9.1kWh configurations priced at Rs 1,04,999 and Rs 1,84,999. The Ola Roadster X is available in 2.5kWh, 3.5kWh and 4.5kWh options, priced at Rs 74,999, Rs 87,999 and Rs 94,999 respectively.
With #ChampionMahotsav, the company aims to ride the celebratory wave across the country while encouraging more consumers to switch to electric mobility.
