Reliance Brands picks-up Screwvala stake in Zivame

 Reliance Brands has acquired 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. As per the reports published in the media resources the cost of acquisition may be between $160 million - or about Rs 1,200 crore

Zodius is the largest shareholder in Zivame with about 60% stake. Khazanah Nasional Bhd owns about 25% .Founded in 2011 by Richa Kar, Zivame also sells products under categories such as beachwear, active wear, and other apparel products and accessories. The company has the distribution network of 30-plus retail stores and a presence in more than 800 partner stores across the country.