The partnership will be formed through Reliance Brands Holding UK Limited (RBL UK), a subsidiary of Reliance Brands Limited. The joint venture will own the Mothercare brand and its intellectual property in India and neighbouring countries such as Nepal, Sri Lanka, Bhutan, and Bangladesh. According to the joint statement, RBL UK will hold a 51% stake in the venture, while Mothercare Global Brand Limited will retain 49%. RBL UK will acquire this stake for a cash consideration of 16 million British pounds. Mothercare Chairman Clive Whiley said the agreement strengthens their operations in South Asia and highlights the enduring value of the Mothercare brand.

Source: dna October 19, 2024 10:20 UTC